State of Wisconsin Investment Board increased its stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP – Free Report) (TSE:BIP.UN) by 212.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,592,339 shares of the utilities provider’s stock after purchasing an additional 1,762,436 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.56% of Brookfield Infrastructure Partners worth $90,058,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC purchased a new stake in Brookfield Infrastructure Partners in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC grew its holdings in Brookfield Infrastructure Partners by 225.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 975 shares of the utilities provider’s stock valued at $34,000 after buying an additional 675 shares during the period. Laurel Wealth Advisors LLC purchased a new stake in Brookfield Infrastructure Partners in the 4th quarter valued at about $42,000. Assetmark Inc. grew its holdings in Brookfield Infrastructure Partners by 544.1% in the 4th 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 period. Finally, Hillsdale Investment Management Inc. purchased a new stake in Brookfield Infrastructure Partners in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.
Brookfield Infrastructure Partners Stock Down 0.2%
Shares of NYSE:BIP opened at $38.02 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 1 year low of $29.63 and a 1 year high of $40.32. The stock has a market capitalization of $17.60 billion, a P/E ratio of 57.60 and a beta of 1.05. The stock has a 50-day simple moving average of $37.62 and a 200-day simple moving average of $36.72.
Brookfield Infrastructure Partners Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.455 per share. The ex-dividend date is Friday, May 29th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.8%. Brookfield Infrastructure Partners’s payout ratio is presently 275.76%.
Insider Activity
In other news, CFO David Tyler Krant bought 1,150 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was acquired at an average price of $48.10 per share, for a total transaction of $55,315.00. Following the acquisition, 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 transaction was disclosed in a filing with the SEC, which is available at this link.
Wall Street Analysts Forecast Growth
Several analysts have commented on BIP shares. Morgan Stanley lifted their price target on Brookfield Infrastructure Partners from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Weiss Ratings cut Brookfield Infrastructure Partners from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. National Bank Financial lifted their price target on Brookfield Infrastructure Partners from $38.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $45.00 price target (up from $44.00) on shares of Brookfield Infrastructure Partners in a report on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.63.
Read Our Latest Stock Report 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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