PCJ Investment Counsel Ltd. Grows Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

PCJ Investment Counsel Ltd. increased its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 72.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 645,740 shares of the utilities provider’s stock after acquiring an additional 271,020 shares during the period. Brookfield Infrastructure Partners comprises 7.2% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 3rd biggest holding. PCJ Investment Counsel Ltd.’s holdings in Brookfield Infrastructure Partners were worth $22,636,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Capital World Investors raised its holdings in shares of Brookfield Infrastructure Partners by 8.9% in the 1st quarter. Capital World Investors now owns 38,365,956 shares of the utilities provider’s stock worth $1,198,095,000 after acquiring an additional 3,141,038 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Brookfield Infrastructure Partners by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 23,809,423 shares of the utilities provider’s stock worth $834,282,000 after acquiring an additional 616,373 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield Infrastructure Partners by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,147,654 shares of the utilities provider’s stock worth $168,680,000 after acquiring an additional 257,587 shares during the last quarter. CCLA Investment Management raised its holdings in shares of Brookfield Infrastructure Partners by 35.0% in the 2nd quarter. CCLA Investment Management now owns 4,341,905 shares of the utilities provider’s stock worth $119,180,000 after acquiring an additional 1,125,964 shares during the last quarter. Finally, Select Equity Group L.P. raised its holdings in shares of Brookfield Infrastructure Partners by 29.6% in the 2nd quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock worth $115,326,000 after acquiring an additional 960,120 shares during the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Price Performance

BIP stock opened at $34.31 on Wednesday. The firm’s 50-day moving average price is $34.33 and its two-hundred day moving average price is $31.51. Brookfield Infrastructure Partners L.P. has a 12-month low of $24.84 and a 12-month high of $36.50. The stock has a market capitalization of $15.84 billion, a price-to-earnings ratio of -90.29 and a beta of 1.06. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72.

Brookfield Infrastructure Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Infrastructure Partners’s payout ratio is -426.32%.

Analysts Set New Price Targets

Several equities research analysts have commented on BIP shares. Cibc World Mkts upgraded shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. TD Securities increased their price objective on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Jefferies Financial Group raised their price target on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.20.

About Brookfield Infrastructure Partners

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.