Harbor Advisory Corp MA Buys 3,699 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Harbor Advisory Corp MA increased its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 1.5% during the 4th quarter, Holdings Channel reports. The fund owned 252,020 shares of the utilities provider’s stock after acquiring an additional 3,699 shares during the period. Brookfield Infrastructure Partners comprises approximately 2.6% of Harbor Advisory Corp MA’s investment portfolio, making the stock its 13th largest position. Harbor Advisory Corp MA’s holdings in Brookfield Infrastructure Partners were worth $8,012,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BIP. Cetera Investment Advisers boosted its stake in Brookfield Infrastructure Partners by 16.0% during the second quarter. Cetera Investment Advisers now owns 37,032 shares of the utilities provider’s stock worth $1,016,000 after acquiring an additional 5,108 shares in the last quarter. Inspire Investing LLC acquired a new position in Brookfield Infrastructure Partners during the third quarter worth $894,000. Creative Planning raised its holdings in Brookfield Infrastructure Partners by 0.6% during the third quarter. Creative Planning now owns 67,445 shares of the utilities provider’s stock worth $2,363,000 after buying an additional 389 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new position in Brookfield Infrastructure Partners during the third quarter worth $26,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its holdings in Brookfield Infrastructure Partners by 101.0% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,587,548 shares of the utilities provider’s stock worth $55,783,000 after buying an additional 797,649 shares during the last quarter. 57.92% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP stock opened at $33.10 on Wednesday. The firm has a 50-day moving average of $32.52 and a 200-day moving average of $33.06. The company has a market cap of $15.36 billion, a P/E ratio of 827.71 and a beta of 1.08. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.08 and a quick ratio of 0.72. Brookfield Infrastructure Partners L.P. has a one year low of $24.84 and a one year high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its earnings results on Thursday, January 30th. The utilities provider reported $0.82 EPS for the quarter, beating 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%. Equities research analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.72 annualized dividend and a dividend yield of 5.20%. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. Brookfield Infrastructure Partners’s dividend payout ratio is currently 4,051.01%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Raymond James upped their price objective on shares of Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price objective on shares of Brookfield Infrastructure Partners in a report on Friday, January 31st. TD Securities upped their price objective on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $42.80.

Brookfield Infrastructure Partners 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.