AGF Management Ltd. Sells 782,825 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

AGF Management Ltd. decreased its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 25.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,295,853 shares of the utilities provider’s stock after selling 782,825 shares during the period. AGF Management Ltd.’s holdings in Brookfield Infrastructure Partners were worth $72,959,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BIP. Promus Capital LLC bought a new stake in Brookfield Infrastructure Partners during the fourth quarter valued at approximately $26,000. Dunhill Financial LLC purchased a new stake in shares of Brookfield Infrastructure Partners in the third quarter worth approximately $30,000. Compass Planning Associates Inc purchased a new position in Brookfield Infrastructure Partners during the 4th quarter worth $28,000. Larson Financial Group LLC purchased a new position in shares of Brookfield Infrastructure Partners in the 4th quarter valued at $30,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Brookfield Infrastructure Partners in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Trading Down 1.7 %

Shares of NYSE BIP opened at $28.18 on Tuesday. The stock has a market cap of $13.08 billion, a price-to-earnings ratio of 704.68 and a beta of 1.10. Brookfield Infrastructure Partners L.P. has a twelve month low of $24.84 and a twelve month high of $36.50. The company’s fifty day moving average is $32.10 and its 200-day moving average is $33.18. The company has a quick ratio of 0.72, a current ratio of 0.08 and a debt-to-equity ratio of 1.72.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Thursday, January 30th. The utilities provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.58. Brookfield Infrastructure Partners had a net margin of 1.64% and a return on equity of 1.17%. Equities research analysts predict that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.43 per share. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Infrastructure Partners’s payout ratio is presently 4,300.00%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. TD Securities lifted their price target on Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Scotiabank increased their price target on shares of Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Raymond James increased their price objective on shares of Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price target on shares of Brookfield Infrastructure Partners in a research report on Friday, January 31st. Finally, StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $42.50.

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.