CIBC Asset Management Inc Has $244.53 Million Stock Holdings in Brookfield Infrastructure Partners LP $BIP

CIBC Asset Management Inc boosted its position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 7.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,301,691 shares of the utilities provider’s stock after purchasing an additional 528,327 shares during the period. CIBC Asset Management Inc owned 1.57% of Brookfield Infrastructure Partners worth $244,531,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BIP. SouthState Corp acquired a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter valued at about $37,000. Harbour Investments Inc. increased its holdings in Brookfield Infrastructure Partners by 23.1% in the second quarter. Harbour Investments Inc. now owns 2,523 shares of the utilities provider’s stock worth $85,000 after buying an additional 474 shares during the last quarter. State of Wyoming bought a new position in Brookfield Infrastructure Partners during the first quarter valued at approximately $97,000. Delta Asset Management LLC TN lifted its stake in Brookfield Infrastructure Partners by 3,263.4% in the second quarter. Delta Asset Management LLC TN now owns 3,767 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 3,655 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Brookfield Infrastructure Partners by 9.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,866 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 325 shares in the last quarter. 57.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BIP has been the topic of a number of recent research reports. Jefferies Financial Group set a $37.00 price target on shares of Brookfield Infrastructure Partners and gave the company a “hold” rating in a report on Wednesday, October 29th. Royal Bank Of Canada set a $40.00 target price on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. Wall Street Zen raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield Infrastructure Partners in a report on Monday. Finally, National Bankshares set a $35.00 price objective on Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research note on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.88.

Brookfield Infrastructure Partners Stock Up 1.1%

BIP stock opened at $35.31 on Thursday. The stock has a market capitalization of $16.36 billion, a price-to-earnings ratio of 52.70 and a beta of 1.09. The company has a 50-day moving average of $34.93 and a two-hundred day moving average of $33.02. Brookfield Infrastructure Partners LP has a 52-week low of $25.72 and a 52-week high of $36.58. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.85 and a quick ratio of 0.81.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.42). The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $2.05 billion. Brookfield Infrastructure Partners had a return on equity of 2.74% and a net margin of 3.70%.Brookfield Infrastructure Partners’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 EPS. As a group, equities research analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 256.72%.

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.