Bowen Hanes & Co. Inc. lessened its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 479,149 shares of the utilities provider’s stock after selling 3,750 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Brookfield Infrastructure Partners were worth $19,108,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its position in Brookfield Infrastructure Partners by 7.1% during the third quarter. Toronto Dominion Bank now owns 4,059,688 shares of the utilities provider’s stock worth $162,059,000 after acquiring an additional 270,140 shares during the last quarter. JPMorgan Chase & Co. raised its position in Brookfield Infrastructure Partners by 43.8% during the third quarter. JPMorgan Chase & Co. now owns 25,454 shares of the utilities provider’s stock worth $1,015,000 after acquiring an additional 7,754 shares during the last quarter. Parametrica Management Ltd acquired a new position in Brookfield Infrastructure Partners during the third quarter worth about $330,000. Cannell Peter B & Co. Inc. raised its position in Brookfield Infrastructure Partners by 10.0% during the third quarter. Cannell Peter B & Co. Inc. now owns 158,839 shares of the utilities provider’s stock worth $6,334,000 after acquiring an additional 14,500 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in Brookfield Infrastructure Partners by 7.2% during the third quarter. Chicago Partners Investment Group LLC now owns 475,850 shares of the utilities provider’s stock worth $17,759,000 after acquiring an additional 31,775 shares during the last quarter. Institutional investors own 47.60% of the company’s stock.

A number of equities research analysts have recently commented on BIP shares. Royal Bank of Canada lifted their price target on shares of Brookfield Infrastructure Partners from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, August 3rd. ValuEngine downgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Citigroup set a $43.00 price target on shares of Brookfield Infrastructure Partners and gave the stock a “neutral” rating in a report on Monday, August 27th. Zacks Investment Research downgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Monday, September 10th. Finally, Credit Suisse Group set a $46.00 price target on shares of Brookfield Infrastructure Partners and gave the stock a “buy” rating in a report on Thursday, September 13th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $46.27.

Shares of NYSE BIP opened at $40.23 on Wednesday. The stock has a market cap of $11.12 billion, a PE ratio of 45.11, a PEG ratio of 1.29 and a beta of 0.96. Brookfield Infrastructure Partners L.P. has a 12 month low of $36.84 and a 12 month high of $46.88.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Friday, November 2nd. The utilities provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.82). The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $795.00 million. Brookfield Infrastructure Partners had a return on equity of 3.54% and a net margin of 8.22%. As a group, research analysts predict that Brookfield Infrastructure Partners L.P. will post 3.12 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, November 30th will be issued a $0.47 dividend. The ex-dividend date is Thursday, November 29th. This represents a $1.88 dividend on an annualized basis and a yield of 4.67%. Brookfield Infrastructure Partners’s payout ratio is 124.50%.

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Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. engages in utility, transport, energy, and communications infrastructure businesses. The company's Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 12,000 km of electricity transmission lines in North and South America; approximately 3.3 million electricity and natural gas connections in the United Kingdom and Colombia; and a port facility that exports metallurgical and thermal coal in Australia.

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Want to see what other hedge funds are holding BIP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN).

Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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