CIBC Asset Management Inc Increases Position in Brookfield Infrastructure Partners LP $BIP

CIBC Asset Management Inc grew its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIPFree Report) (TSE:BIP.UN) by 7.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,559,336 shares of the utilities provider’s stock after buying an additional 589,915 shares during the period. CIBC Asset Management Inc’s holdings in Brookfield Infrastructure Partners were worth $297,699,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BIP. Laurel Wealth Advisors LLC bought a new position in shares of Brookfield Infrastructure Partners during the fourth quarter valued at approximately $42,000. Assetmark Inc. grew its stake in shares of Brookfield Infrastructure Partners by 544.1% during the fourth quarter. Assetmark Inc. now owns 1,256 shares of the utilities provider’s stock valued at $44,000 after buying an additional 1,061 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Brookfield Infrastructure Partners during the fourth quarter valued at approximately $45,000. Sound Income Strategies LLC grew its stake in shares of Brookfield Infrastructure Partners by 45.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the utilities provider’s stock valued at $49,000 after buying an additional 436 shares during the last quarter. Finally, Concord Wealth Partners bought a new position in shares of Brookfield Infrastructure Partners during the fourth quarter valued at approximately $50,000. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Down 0.2%

Shares of NYSE:BIP opened at $38.79 on Wednesday. Brookfield Infrastructure Partners LP has a 52-week low of $29.63 and a 52-week high of $40.32. The stock has a market cap of $17.96 billion, a P/E ratio of 58.78 and a beta of 1.05. The business’s 50 day moving average is $37.00 and its 200 day moving average is $36.47. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 1.74.

Brookfield Infrastructure Partners (NYSE:BIPGet Free Report) (TSE:BIP.UN) last announced its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.62. Brookfield Infrastructure Partners had a return on equity of 2.54% and a net margin of 3.46%.The company had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. Sell-side analysts predict that Brookfield Infrastructure Partners LP will post 3.59 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, May 29th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 275.76%.

Insider Transactions at Brookfield Infrastructure Partners

In other Brookfield Infrastructure Partners news, CFO David Tyler Krant bought 1,150 shares of the company’s stock in a transaction on Friday, May 1st. The shares were bought at an average cost of $48.10 per share, for a total transaction of $55,315.00. Following the acquisition, the chief financial officer directly owned 2,150 shares in the company, valued at approximately $103,415. The trade was a 115.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BIP shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $45.00 target price (up from $44.00) on shares of Brookfield Infrastructure Partners in a research note on Tuesday, May 26th. National Bank Financial upped their price target on shares of Brookfield Infrastructure Partners from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday. Weiss Ratings cut shares of Brookfield Infrastructure Partners from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Finally, Morgan Stanley upped their price target on shares of Brookfield Infrastructure Partners from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.63.

Get Our Latest Research Report on Brookfield Infrastructure Partners

Brookfield Infrastructure Partners Company Profile

(Free Report)

Brookfield Infrastructure Partners L.P. (NYSE: BIP) is a publicly traded limited partnership that owns and operates a diversified portfolio of infrastructure assets across four core sectors: utilities, transport, energy and data infrastructure. Through long-lived, regulated or contracted assets, Brookfield Infrastructure provides essential services such as electricity transmission and distribution, toll road and port operations, midstream energy logistics and fiber-based data networks.

The company’s utilities division encompasses regulated electricity and gas distribution networks in North and South America, Europe and Australia, ensuring stable cash flows under current regulatory frameworks.

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Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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