AGF Management Ltd. Decreases Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) –

AGF Management Ltd. decreased its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP – Free Report) (TSE:BIP.UN) by 6.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,463,198 shares of the utilities provider’s stock after selling 183,072 shares during the period. AGF Management Ltd. owned about 0.54% of Brookfield Infrastructure Partners worth $83,235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. increased its stake in Brookfield Infrastructure Partners by 6.3% during the 4th quarter. 1832 Asset Management L.P. now owns 15,750,231 shares of the utilities provider’s stock worth $488,100,000 after buying an additional 938,006 shares during the period. Principal Financial Group Inc. grew its holdings in Brookfield Infrastructure Partners by 0.9% during the 4th quarter. Principal Financial Group Inc. now owns 14,431,368 shares of the utilities provider’s stock worth $447,228,000 after acquiring an additional 129,066 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Brookfield Infrastructure Partners by 18.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 13,460,428 shares of the utilities provider’s stock worth $417,056,000 after acquiring an additional 2,134,502 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Brookfield Infrastructure Partners by 12.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,344,597 shares of the utilities provider’s stock worth $420,203,000 after acquiring an additional 685,194 shares in the last quarter. Finally, Morgan Stanley grew its holdings in Brookfield Infrastructure Partners by 2.8% during the 4th quarter. Morgan Stanley now owns 6,121,118 shares of the utilities provider’s stock worth $189,693,000 after acquiring an additional 169,285 shares in the last quarter. Hedge funds and other institutional investors own 47.41% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP stock traded down $0.05 during midday trading on Friday, reaching $35.39. 82,731 shares of the company were exchanged, compared to its average volume of 338,935. The company’s 50 day moving average price is $36.05 and its two-hundred day moving average price is $34.92. Brookfield Infrastructure Partners L.P. has a 12 month low of $30.03 and a 12 month high of $43.62. The company has a market cap of $16.24 billion, a P/E ratio of 443.37 and a beta of 0.87.

Brookfield Infrastructure Partners (NYSE:BIP – Get Free Report) (TSE:BIP.UN) last released its earnings results on Wednesday, May 3rd. The utilities provider reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.79). Brookfield Infrastructure Partners had a return on equity of 1.00% and a net margin of 1.67%. The business had revenue of $4.22 billion during the quarter. As a group, sell-side analysts predict that Brookfield Infrastructure Partners L.P. will post 3.07 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Wednesday, May 31st were issued a $0.382 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $1.53 dividend on an annualized basis and a dividend yield of 4.32%. Brookfield Infrastructure Partners’s payout ratio is currently 1,912.74%.

Analysts Set New Price Targets

BIP has been the subject of several recent analyst reports. National Bankshares raised their price objective on shares of Brookfield Infrastructure Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a report on Friday, May 5th. Wells Fargo & Company lifted their price target on shares of Brookfield Infrastructure Partners from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, April 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Brookfield Infrastructure Partners in a report on Thursday, April 13th. Finally, StockNews.com lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.60.

Brookfield Infrastructure Partners Profile

(Free Report)

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 60,000 kilometers (km) of operational electricity transmission and distribution lines; 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.8 million electricity and natural gas connections; and 540,000 long-term contracted sub-metering services.

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