First Manhattan CO. LLC. Trims Stake in Brookfield Infrastructure Partners LP $BIP

First Manhattan CO. LLC. reduced its position in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,878,459 shares of the utilities provider’s stock after selling 33,537 shares during the quarter. First Manhattan CO. LLC. owned 0.41% of Brookfield Infrastructure Partners worth $65,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its position in shares of Brookfield Infrastructure Partners by 6.1% during the fourth quarter. Cetera Investment Advisers now owns 63,191 shares of the utilities provider’s stock worth $2,195,000 after acquiring an additional 3,608 shares during the period. Ninepoint Partners LP purchased a new position in shares of Brookfield Infrastructure Partners during the fourth quarter worth approximately $2,975,000. Russell Investments Group Ltd. increased its position in shares of Brookfield Infrastructure Partners by 72.9% during the fourth quarter. Russell Investments Group Ltd. now owns 90,716 shares of the utilities provider’s stock worth $3,157,000 after acquiring an additional 38,256 shares during the period. State of Wisconsin Investment Board increased its position in shares of Brookfield Infrastructure Partners by 212.4% during the fourth quarter. State of Wisconsin Investment Board now owns 2,592,339 shares of the utilities provider’s stock worth $90,058,000 after acquiring an additional 1,762,436 shares during the period. Finally, Captrust Financial Advisors increased its position in shares of Brookfield Infrastructure Partners by 1.5% during the fourth quarter. Captrust Financial Advisors now owns 71,652 shares of the utilities provider’s stock worth $2,489,000 after acquiring an additional 1,059 shares during the period. 57.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. National Bank Financial raised their target price on shares of Brookfield Infrastructure Partners from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Weiss Ratings lowered shares of Brookfield Infrastructure Partners from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $45.00 target price (up from $44.00) on shares of Brookfield Infrastructure Partners in a research report on Tuesday, May 26th. Finally, Morgan Stanley raised their target price on shares of Brookfield Infrastructure Partners from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.63.

Insider Transactions at Brookfield Infrastructure Partners

In other Brookfield Infrastructure Partners news, CFO David Tyler Krant acquired 1,150 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average cost of $48.10 per share, with a total value of $55,315.00. Following the completion of the acquisition, the chief financial officer directly owned 2,150 shares in the company, valued at $103,415. This represents a 115.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP stock opened at $37.35 on Thursday. The firm has a market cap of $17.29 billion, a price-to-earnings ratio of 56.59 and a beta of 1.05. The company’s 50 day moving average is $37.64 and its 200 day moving average is $36.73. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 1.74. Brookfield Infrastructure Partners LP has a 52-week low of $29.63 and a 52-week high of $40.32.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.62. The company had revenue of $6.30 billion for the quarter, compared to analyst estimates of $2.13 billion. Brookfield Infrastructure Partners had a net margin of 3.46% and a return on equity of 2.54%. During the same period last year, the company posted $0.82 earnings per share. On average, sell-side analysts anticipate that Brookfield Infrastructure Partners LP will post 3.59 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 275.76%.

About Brookfield Infrastructure Partners

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.