Leith Wheeler Investment Counsel Ltd. Grows Position in Brookfield Infrastructure Partners L.P. (BIP)

Leith Wheeler Investment Counsel Ltd. boosted its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,362 shares of the utilities provider’s stock after acquiring an additional 3,880 shares during the period. Brookfield Infrastructure Partners accounts for 5.9% of Leith Wheeler Investment Counsel Ltd.’s holdings, making the stock its biggest position. Leith Wheeler Investment Counsel Ltd.’s holdings in Brookfield Infrastructure Partners were worth $3,377,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BIP. TD Asset Management Inc. grew its holdings in shares of Brookfield Infrastructure Partners by 13.6% during the 3rd quarter. TD Asset Management Inc. now owns 9,884,891 shares of the utilities provider’s stock worth $425,408,000 after purchasing an additional 1,183,668 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Brookfield Infrastructure Partners by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,751,437 shares of the utilities provider’s stock worth $377,532,000 after purchasing an additional 437,693 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Brookfield Infrastructure Partners by 2.9% in the third quarter. Neuberger Berman Group LLC now owns 6,843,911 shares of the utilities provider’s stock valued at $295,246,000 after buying an additional 194,390 shares in the last quarter. Capital World Investors boosted its stake in Brookfield Infrastructure Partners by 58.9% in the second quarter. Capital World Investors now owns 5,215,000 shares of the utilities provider’s stock valued at $213,297,000 after buying an additional 1,932,672 shares in the last quarter. Finally, First Manhattan Co. boosted its stake in Brookfield Infrastructure Partners by 0.4% in the third quarter. First Manhattan Co. now owns 1,639,485 shares of the utilities provider’s stock valued at $70,727,000 after buying an additional 6,517 shares in the last quarter. Institutional investors and hedge funds own 45.21% of the company’s stock.

Several research firms recently weighed in on BIP. Zacks Investment Research lowered Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Credit Suisse Group reiterated a “hold” rating and issued a $44.00 target price on shares of Brookfield Infrastructure Partners in a research report on Wednesday, December 27th. Royal Bank of Canada increased their target price on Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. National Bank Financial raised their price objective on Brookfield Infrastructure Partners from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. Finally, Scotiabank restated an “outperform” rating and set a $59.50 price objective on shares of Brookfield Infrastructure Partners in a research report on Tuesday, November 28th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $48.88.

Shares of Brookfield Infrastructure Partners L.P. (NYSE BIP) opened at $42.92 on Thursday. The company has a market capitalization of $16,520.00, a P/E ratio of 165.08, a price-to-earnings-growth ratio of 1.04 and a beta of 1.05. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.61. Brookfield Infrastructure Partners L.P. has a one year low of $34.34 and a one year high of $46.88.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its earnings results on Friday, November 3rd. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.86). Brookfield Infrastructure Partners had a net margin of 5.33% and a return on equity of 1.59%. equities research analysts expect that Brookfield Infrastructure Partners L.P. will post 3.13 EPS for the current fiscal year.

Brookfield Infrastructure Partners announced that its Board of Directors has approved a share buyback program on Tuesday, November 7th that allows the company to buyback 13,820,000 outstanding shares. This buyback authorization allows the utilities provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).

Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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