First Western Trust Bank Takes Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

First Western Trust Bank acquired a new position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 15,550 shares of the utilities provider’s stock, valued at approximately $490,000.

Several other large investors also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield Infrastructure Partners by 8.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,876,978 shares of the utilities provider’s stock valued at $525,947,000 after acquiring an additional 1,362,482 shares in the last quarter. Principal Financial Group Inc. lifted its position in Brookfield Infrastructure Partners by 11.7% during the third quarter. Principal Financial Group Inc. now owns 16,337,632 shares of the utilities provider’s stock valued at $480,326,000 after purchasing an additional 1,714,740 shares during the last quarter. Mackenzie Financial Corp grew its stake in Brookfield Infrastructure Partners by 28.2% in the 4th quarter. Mackenzie Financial Corp now owns 7,118,909 shares of the utilities provider’s stock worth $224,468,000 after buying an additional 1,565,246 shares in the last quarter. Scotia Capital Inc. increased its holdings in shares of Brookfield Infrastructure Partners by 3.5% in the 3rd quarter. Scotia Capital Inc. now owns 5,625,052 shares of the utilities provider’s stock worth $164,815,000 after buying an additional 189,649 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Brookfield Infrastructure Partners by 1.1% during the 3rd quarter. CIBC Asset Management Inc now owns 5,569,701 shares of the utilities provider’s stock worth $163,953,000 after acquiring an additional 60,510 shares during the last quarter. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Trading Up 1.1 %

NYSE BIP traded up $0.33 on Thursday, hitting $30.70. The company’s stock had a trading volume of 383,180 shares, compared to its average volume of 512,101. Brookfield Infrastructure Partners L.P. has a 52-week low of $21.03 and a 52-week high of $37.32. The firm has a market cap of $14.16 billion, a P/E ratio of 99.03 and a beta of 0.99. The company’s 50-day simple moving average is $28.70 and its 200 day simple moving average is $28.85.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 5.28%. The ex-dividend date is Friday, May 31st. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 522.58%.

Analysts Set New Price Targets

BIP has been the topic of a number of research reports. National Bankshares downgraded Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 price target on the stock. in a research report on Tuesday, January 30th. BMO Capital Markets dropped their target price on Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. TD Securities reduced their price target on shares of Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. National Bank Financial lowered shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 30th. Finally, Raymond James increased their target price on shares of Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the company a “strong-buy” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Brookfield Infrastructure Partners Company Profile

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.