Credit Industriel ET Commercial Has $858,000 Stake in Brookfield Infrastructure Partners LP $BIP

Credit Industriel ET Commercial trimmed its stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 72.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,625 shares of the utilities provider’s stock after selling 68,004 shares during the period. Credit Industriel ET Commercial’s holdings in Brookfield Infrastructure Partners were worth $858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BIP. CCLA Investment Management raised its stake in shares of Brookfield Infrastructure Partners by 33.5% in the 1st quarter. CCLA Investment Management now owns 5,795,677 shares of the utilities provider’s stock valued at $172,537,000 after purchasing an additional 1,453,772 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Brookfield Infrastructure Partners by 713.3% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,655,916 shares of the utilities provider’s stock valued at $49,270,000 after buying an additional 1,452,320 shares during the last quarter. Principal Financial Group Inc. raised its position in Brookfield Infrastructure Partners by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 27,621,080 shares of the utilities provider’s stock valued at $822,832,000 after buying an additional 945,462 shares during the last quarter. SCS Capital Management LLC acquired a new stake in Brookfield Infrastructure Partners in the 1st quarter valued at approximately $24,786,000. Finally, AGF Management Ltd. raised its position in Brookfield Infrastructure Partners by 18.6% in the 1st quarter. AGF Management Ltd. now owns 2,722,101 shares of the utilities provider’s stock valued at $80,980,000 after buying an additional 426,248 shares during the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Up 1.0%

Brookfield Infrastructure Partners stock opened at $34.71 on Tuesday. The firm has a market capitalization of $16.09 billion, a PE ratio of 694.40 and a beta of 1.16. The company’s 50-day moving average is $31.51 and its 200-day moving average is $31.54. Brookfield Infrastructure Partners LP has a fifty-two week low of $25.72 and a fifty-two week high of $36.50. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.88 and a quick ratio of 0.85.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $1.95 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Sell-side analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.0%. Brookfield Infrastructure Partners’s payout ratio is presently 3,440.00%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BIP. Royal Bank Of Canada set a $40.00 price objective on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a report on Wednesday, August 27th. Wall Street Zen lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Saturday, September 6th. National Bank Financial upgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Jefferies Financial Group started coverage on Brookfield Infrastructure Partners in a research report on Friday, August 29th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.14.

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.