Brookfield Infrastructure Partners LP $BIP Stock Sold by MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd lessened its stake in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644,198 shares of the utilities provider’s stock after selling 18,488 shares during the period. Brookfield Infrastructure Partners accounts for approximately 2.9% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s portfolio, making the stock its 11th largest position. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s holdings in Brookfield Infrastructure Partners were worth $22,901,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Bank of Nova Scotia increased its position in shares of Brookfield Infrastructure Partners by 28.0% during the first quarter. Bank of Nova Scotia now owns 2,812,022 shares of the utilities provider’s stock worth $101,409,000 after purchasing an additional 614,531 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Brookfield Infrastructure Partners by 55.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,761,387 shares of the utilities provider’s stock valued at $99,572,000 after purchasing an additional 979,842 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at about $76,976,000. Addenda Capital Inc. grew its stake in Brookfield Infrastructure Partners by 0.7% during the 2nd quarter. Addenda Capital Inc. now owns 777,392 shares of the utilities provider’s stock worth $28,367,000 after buying an additional 5,534 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Brookfield Infrastructure Partners by 1.4% during the 1st quarter. Bank of America Corp DE now owns 555,778 shares of the utilities provider’s stock worth $20,075,000 after buying an additional 7,931 shares during the last quarter. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup reaffirmed a “neutral” rating and set a $41.00 price target (up from $37.00) on shares of Brookfield Infrastructure Partners in a research report on Monday, August 3rd. Wall Street Zen downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. National Bank Financial raised their target price on shares of Brookfield Infrastructure Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. BMO Capital Markets lifted their target price on shares of Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, Morgan Stanley reduced their price target on shares of Brookfield Infrastructure Partners from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, October 13th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.75.

Brookfield Infrastructure Partners Price Performance

Shares of BIP opened at $36.74 on Thursday. Brookfield Infrastructure Partners LP has a fifty-two week low of $33.21 and a fifty-two week high of $44.03. The company has a market capitalization of $16.82 billion, a price-to-earnings ratio of 59.26 and a beta of 1.06. The firm has a 50-day simple moving average of $36.79 and a 200-day simple moving average of $37.43. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.89.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.73. The firm had revenue of $6.48 billion for the quarter, compared to analysts’ expectations of $2.23 billion. Brookfield Infrastructure Partners had a return on equity of 2.63% and a net margin of 3.51%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. On average, equities research analysts anticipate that Brookfield Infrastructure Partners LP will post 3.63 earnings per share for the current year.

Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. (NYSE: BIP) is a global owner and operator of essential infrastructure assets. The partnership invests in and manages businesses that provide critical services to communities and industries, with a focus on long-term, durable cash flows and assets that are difficult to replicate.

Its operations span several infrastructure sectors, including utilities, transportation, midstream energy, and data infrastructure. The portfolio includes regulated and contracted businesses such as electricity and natural gas transmission and distribution systems, rail and port operations, natural gas pipelines and processing facilities, fiber-optic networks, data centers, and other communications infrastructure.

Brookfield Infrastructure serves customers across North America, South America, Europe, and the Asia-Pacific region.