Summit Trail Advisors LLC Acquires Shares of 13,885 Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Summit Trail Advisors LLC bought a new position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the 4th quarter, Holdings Channel.com reports. The firm bought 13,885 shares of the utilities provider’s stock, valued at approximately $441,000.

Several other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Brookfield Infrastructure Partners by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 23,809,423 shares of the utilities provider’s stock valued at $834,282,000 after buying an additional 616,373 shares during the period. Toronto Dominion Bank increased its position in shares of Brookfield Infrastructure Partners by 24.6% in the third quarter. Toronto Dominion Bank now owns 4,003,231 shares of the utilities provider’s stock valued at $140,273,000 after acquiring an additional 790,078 shares during the period. National Bank of Canada FI raised its stake in shares of Brookfield Infrastructure Partners by 5.4% during the third quarter. National Bank of Canada FI now owns 2,550,270 shares of the utilities provider’s stock valued at $89,362,000 after acquiring an additional 130,371 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of 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 purchasing an additional 797,649 shares during the period. Finally, Lake Street Advisors Group LLC grew its stake in shares of Brookfield Infrastructure Partners by 1.7% in the third quarter. Lake Street Advisors Group LLC now owns 1,225,263 shares of the utilities provider’s stock worth $42,933,000 after purchasing an additional 20,610 shares during the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BIP has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of Brookfield Infrastructure Partners in a research report on Friday, January 31st. Raymond James upped their target price on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the company a “strong-buy” rating in a report on Thursday, January 30th. TD Securities raised their price target on Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $42.80.

Brookfield Infrastructure Partners Stock Down 0.7 %

Shares of NYSE:BIP opened at $33.10 on Wednesday. The firm has a market capitalization 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 quick ratio of 0.72 and a current ratio of 0.08. The stock has a 50 day moving average price of $32.52 and a 200-day moving average price of $33.06. Brookfield Infrastructure Partners L.P. has a 52-week low of $24.84 and a 52-week high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Thursday, January 30th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping 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 research analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 5.20%. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, February 28th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) 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.