DAVENPORT & Co LLC Lowers Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

DAVENPORT & Co LLC reduced its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,001 shares of the utilities provider’s stock after selling 1,194 shares during the period. DAVENPORT & Co LLC’s holdings in Brookfield Infrastructure Partners were worth $4,795,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Custom Index Systems LLC bought a new stake in Brookfield Infrastructure Partners during the 4th quarter valued at about $234,000. Montrusco Bolton Investments Inc. increased its position in shares of Brookfield Infrastructure Partners by 5.0% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 829,187 shares of the utilities provider’s stock valued at $26,337,000 after acquiring an additional 39,565 shares in the last quarter. Walnut Private Equity Partners LLC lifted its position in Brookfield Infrastructure Partners by 33.3% in the 4th quarter. Walnut Private Equity Partners LLC now owns 100,000 shares of the utilities provider’s stock valued at $3,179,000 after acquiring an additional 25,000 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Brookfield Infrastructure Partners by 48.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,365 shares of the utilities provider’s stock valued at $711,000 after purchasing an additional 7,318 shares during the last quarter. Finally, Addenda Capital Inc. increased its holdings in shares of Brookfield Infrastructure Partners by 129.5% in the 4th quarter. Addenda Capital Inc. now owns 680,481 shares of the utilities provider’s stock worth $21,632,000 after purchasing an additional 384,000 shares in the last quarter. 57.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BIP has been the topic of several recent analyst reports. Raymond James increased their price objective on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 30th. TD Securities raised their price target on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the company a “buy” rating in a report on Monday. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $40.00 target price on shares of Brookfield Infrastructure Partners in a report on Friday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $42.80.

Brookfield Infrastructure Partners Stock Performance

BIP opened at $32.04 on Tuesday. 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 cap of $14.87 billion, a price-to-earnings ratio of 801.10 and a beta of 1.08. The company has a current ratio of 0.08, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72. The company’s 50 day moving average is $32.79 and its 200 day moving average is $32.97.

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

Brookfield Infrastructure Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a $0.43 dividend. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a yield of 5.37%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 4,051.01%.

About Brookfield Infrastructure Partners

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.