Westerkirk Capital Inc. lessened its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP – Free Report) (TSE:BIP.UN) by 93.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,340 shares of the utilities provider’s stock after selling 18,100 shares during the period. Westerkirk Capital Inc.’s holdings in Brookfield Infrastructure Partners were worth $47,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in the business. Capital World Investors raised its stake in shares of Brookfield Infrastructure Partners by 0.3% during the 4th quarter. Capital World Investors now owns 31,104,057 shares of the utilities provider’s stock worth $1,081,181,000 after buying an additional 86,068 shares during the period. Bank of Montreal Can raised its stake in shares of Brookfield Infrastructure Partners by 3.4% during the 3rd quarter. Bank of Montreal Can now owns 28,289,627 shares of the utilities provider’s stock worth $930,446,000 after buying an additional 926,167 shares during the period. CIBC Asset Management Inc raised its stake in shares of Brookfield Infrastructure Partners by 7.4% during the 4th quarter. CIBC Asset Management Inc now owns 8,559,336 shares of the utilities provider’s stock worth $297,699,000 after buying an additional 589,915 shares during the period. Scotia Capital Inc. raised its stake in shares of Brookfield Infrastructure Partners by 6.2% during the 3rd quarter. Scotia Capital Inc. now owns 7,367,383 shares of the utilities provider’s stock worth $241,967,000 after buying an additional 431,557 shares during the period. Finally, TD Asset Management Inc raised its stake in shares of Brookfield Infrastructure Partners by 3.8% during the 4th quarter. TD Asset Management Inc now owns 7,015,901 shares of the utilities provider’s stock worth $244,192,000 after buying an additional 259,074 shares during the period. 57.92% of the stock is owned by institutional investors and hedge funds.
Brookfield Infrastructure Partners Stock Down 0.0%
Shares of BIP opened at $38.67 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.64 and a current ratio of 0.68. Brookfield Infrastructure Partners LP has a one year low of $29.63 and a one year high of $40.32. The stock has a market capitalization of $17.90 billion, a price-to-earnings ratio of 58.58 and a beta of 1.05. The stock has a 50 day moving average price of $37.39 and a 200 day moving average price of $36.62.
Brookfield Infrastructure Partners Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, May 29th. Brookfield Infrastructure Partners’s payout ratio is presently 275.76%.
Insider Activity at Brookfield Infrastructure Partners
In other news, CFO David Tyler Krant purchased 1,150 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average cost of $48.10 per share, for a total transaction of $55,315.00. Following the completion of the transaction, the chief financial officer owned 2,150 shares of the company’s stock, valued at $103,415. This trade represents a 115.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Weiss Ratings downgraded Brookfield Infrastructure Partners from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. National Bank Financial upped their target price on Brookfield Infrastructure Partners from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Morgan Stanley upped their target price on Brookfield Infrastructure Partners from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Finally, 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. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.63.
Read Our Latest Analysis on BIP
Brookfield Infrastructure Partners Profile
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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