Connor Clark & Lunn Investment Management Ltd. Grows Holdings in Brookfield Infrastructure Partners LP $BIP

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 34.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,227,764 shares of the utilities provider’s stock after acquiring an additional 312,751 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.26% of Brookfield Infrastructure Partners worth $41,158,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Truist Financial Corp lifted its position in shares of Brookfield Infrastructure Partners by 1.3% during the second quarter. Truist Financial Corp now owns 23,616 shares of the utilities provider’s stock worth $791,000 after purchasing an additional 314 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Brookfield Infrastructure Partners by 9.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,866 shares of the utilities provider’s stock worth $115,000 after buying an additional 325 shares during the last quarter. Harbour Investments Inc. raised its position in shares of Brookfield Infrastructure Partners by 23.1% during the 2nd quarter. Harbour Investments Inc. now owns 2,523 shares of the utilities provider’s stock valued at $85,000 after acquiring an additional 474 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in Brookfield Infrastructure Partners by 0.7% during the first quarter. Kestra Advisory Services LLC now owns 66,854 shares of the utilities provider’s stock worth $1,992,000 after purchasing an additional 479 shares during the last quarter. Finally, Keybank National Association OH boosted its holdings in Brookfield Infrastructure Partners by 1.5% in the second quarter. Keybank National Association OH now owns 37,868 shares of the utilities provider’s stock worth $1,269,000 after purchasing an additional 565 shares during the period. 57.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on BIP shares. National Bankshares set a $35.00 price target on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a report on Friday, September 26th. National Bank Financial upgraded Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Jefferies Financial Group set a $37.00 price target on Brookfield Infrastructure Partners and gave the stock a “hold” rating in a research report on Wednesday, October 29th. Wall Street Zen raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Royal Bank Of Canada set a $40.00 price objective on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research note on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.43.

Brookfield Infrastructure Partners Trading Up 2.5%

Shares of BIP stock opened at $35.19 on Monday. The firm has a market capitalization of $16.31 billion, a PE ratio of 703.86 and a beta of 1.14. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88. Brookfield Infrastructure Partners LP has a 1 year low of $25.72 and a 1 year high of $35.64. The stock has a fifty day moving average of $32.98 and a two-hundred day moving average of $32.35.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.42). The company had revenue of $5.98 billion during the quarter, compared to analyst estimates of $2.05 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 EPS. As a group, research analysts expect that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Friday, November 28th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 256.72%.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, midstream, and data businesses in North and South America, Europe, and the Asia Pacific. The company's Utilities segment operates approximately 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 8.1 million electricity and natural gas connections; and 0.6 million long-term contracted sub-metering services.