Lake Street Advisors Group LLC Sells 42,875 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Lake Street Advisors Group LLC lessened its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,182,388 shares of the utilities provider’s stock after selling 42,875 shares during the period. Brookfield Infrastructure Partners accounts for about 1.7% of Lake Street Advisors Group LLC’s investment portfolio, making the stock its 14th biggest holding. Lake Street Advisors Group LLC owned approximately 0.25% of Brookfield Infrastructure Partners worth $37,588,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 12.0% during the 4th quarter. Principal Financial Group Inc. now owns 26,675,618 shares of the utilities provider’s stock worth $848,018,000 after acquiring an additional 2,866,195 shares in the last quarter. Intact Investment Management Inc. bought a new stake in Brookfield Infrastructure Partners during the third quarter worth approximately $40,286,000. Pathway Financial Advisers LLC grew its holdings in Brookfield Infrastructure Partners by 1,616.3% during the third quarter. Pathway Financial Advisers LLC now owns 1,079,521 shares of the utilities provider’s stock valued at $37,826,000 after purchasing an additional 1,016,623 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Brookfield Infrastructure Partners by 24.6% in the third quarter. Toronto Dominion Bank now owns 4,003,231 shares of the utilities provider’s stock valued at $140,273,000 after purchasing an additional 790,078 shares during the period. Finally, Addenda Capital Inc. lifted its stake in shares of Brookfield Infrastructure Partners by 129.5% in the fourth quarter. Addenda Capital Inc. now owns 680,481 shares of the utilities provider’s stock worth $21,632,000 after buying an additional 384,000 shares during the last quarter. 57.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BIP has been the subject of a number of research analyst reports. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Raymond James boosted their price objective on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 30th. Scotiabank raised their target price on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. TD Securities upped their price target on Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $40.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Friday, January 31st. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $42.50.

Brookfield Infrastructure Partners Price Performance

Shares of BIP stock opened at $32.42 on Wednesday. Brookfield Infrastructure Partners L.P. has a 12 month low of $24.84 and a 12 month high of $36.50. The company has a market capitalization of $15.05 billion, a P/E ratio of 810.70 and a beta of 1.08. The stock has a 50 day moving average of $32.34 and a two-hundred day moving average of $33.24. The company has a current ratio of 0.08, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Thursday, January 30th. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.24 by $0.58. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. As a group, equities analysts expect that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.31%. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 4,051.01%.

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.