Connor Clark & Lunn Investment Management Ltd. Has $75.65 Million Stock Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 11.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,383,704 shares of the utilities provider’s stock after selling 320,626 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.51% of Brookfield Infrastructure Partners worth $75,653,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Promus Capital LLC bought a new position in Brookfield Infrastructure Partners in the 4th quarter valued at about $26,000. Compass Planning Associates Inc acquired a new stake in Brookfield Infrastructure Partners during the 4th quarter worth approximately $28,000. Dunhill Financial LLC acquired a new position in shares of Brookfield Infrastructure Partners in the 3rd quarter worth approximately $30,000. Larson Financial Group LLC acquired a new position in shares of Brookfield Infrastructure Partners in the 4th quarter worth approximately $30,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Brookfield Infrastructure Partners in the 4th quarter worth approximately $32,000. 57.92% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP opened at $28.40 on Thursday. Brookfield Infrastructure Partners L.P. has a 1-year low of $24.84 and a 1-year high of $36.50. The business has a fifty day moving average price of $31.96 and a 200-day moving average price of $33.12. The company has a market capitalization of $13.18 billion, a PE ratio of 710.23 and a beta of 1.10. 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 (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Thursday, January 30th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 fiscal year.

Brookfield Infrastructure Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.06%. The ex-dividend date is Friday, February 28th. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. Brookfield Infrastructure Partners’s dividend payout ratio is presently 4,300.00%.

Analysts Set New Price Targets

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

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.