PCJ Investment Counsel Ltd. Decreases Stake in Brookfield Infrastructure Partners LP $BIP

PCJ Investment Counsel Ltd. lessened its stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 35.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 169,100 shares of the utilities provider’s stock after selling 93,110 shares during the quarter. Brookfield Infrastructure Partners makes up approximately 1.5% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 20th biggest position. PCJ Investment Counsel Ltd.’s holdings in Brookfield Infrastructure Partners were worth $5,566,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in BIP. Picton Mahoney Asset Management purchased a new position in shares of Brookfield Infrastructure Partners in the second quarter worth $46,203,000. Intact Investment Management Inc. boosted its position in Brookfield Infrastructure Partners by 72.9% during the 3rd quarter. Intact Investment Management Inc. now owns 2,365,634 shares of the utilities provider’s stock valued at $77,962,000 after buying an additional 997,680 shares during the period. JPMorgan Chase & Co. boosted its position in Brookfield Infrastructure Partners by 54.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 505,183 shares of the utilities provider’s stock valued at $16,615,000 after buying an additional 178,534 shares during the period. Credit Industriel ET Commercial grew its holdings in Brookfield Infrastructure Partners by 582.7% in the 3rd quarter. Credit Industriel ET Commercial now owns 174,940 shares of the utilities provider’s stock worth $5,754,000 after acquiring an additional 149,315 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. grew its holdings in Brookfield Infrastructure Partners by 46.7% in the 2nd quarter. Dixon Mitchell Investment Counsel Inc. now owns 2,503,764 shares of the utilities provider’s stock worth $83,739,000 after acquiring an additional 797,429 shares during the last quarter. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Up 2.9%

Shares of Brookfield Infrastructure Partners stock opened at $37.96 on Wednesday. The company has a current ratio of 0.08, a quick ratio of 0.81 and a debt-to-equity ratio of 1.68. Brookfield Infrastructure Partners LP has a 12-month low of $25.72 and a 12-month high of $40.32. The company has a market cap of $17.50 billion, a P/E ratio of 42.17 and a beta of 1.10. The company’s fifty day simple moving average is $36.70 and its two-hundred day simple moving average is $34.82.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its earnings results on Thursday, January 29th. The utilities provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.42). The company had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Brookfield Infrastructure Partners had a return on equity of 3.22% and a net margin of 4.40%.The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. Research analysts anticipate that Brookfield Infrastructure Partners LP 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 Tuesday, March 31st. Investors of record on Friday, February 27th will be paid a $0.455 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.43. This represents a $1.82 dividend on an annualized basis and a yield of 4.8%. Brookfield Infrastructure Partners’s payout ratio is currently 202.22%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BIP shares. Scotiabank reaffirmed an “outperform” rating and set a $44.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Friday, January 16th. National Bank Financial raised their target price on Brookfield Infrastructure Partners from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. TD Securities restated a “buy” rating and set a $57.00 price target (up from $55.00) on shares of Brookfield Infrastructure Partners in a report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Brookfield Infrastructure Partners in a research report on Monday, December 29th. Finally, Morgan Stanley set a $45.00 price objective on Brookfield Infrastructure Partners in a report on Wednesday, January 28th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Brookfield Infrastructure Partners presently has an average rating of “Moderate Buy” and an average price target of $42.13.

Brookfield Infrastructure Partners Company 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.