Morse Asset Management Inc Sells 3,000 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

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Morse Asset Management Inc decreased its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 20.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,650 shares of the utilities provider’s stock after selling 3,000 shares during the quarter. Morse Asset Management Inc’s holdings in Brookfield Infrastructure Partners were worth $500,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BIP. Intact Investment Management Inc. increased its position in shares of Brookfield Infrastructure Partners by 10.0% in the 2nd quarter. Intact Investment Management Inc. now owns 1,146,200 shares of the utilities provider’s stock valued at $64,187,000 after acquiring an additional 103,900 shares during the period. Highstreet Asset Management Inc. increased its position in shares of Brookfield Infrastructure Partners by 45.1% in the 2nd quarter. Highstreet Asset Management Inc. now owns 672,141 shares of the utilities provider’s stock valued at $28,809,000 after acquiring an additional 208,897 shares during the period. Hudock Capital Group LLC increased its position in shares of Brookfield Infrastructure Partners by 10.3% in the 2nd quarter. Hudock Capital Group LLC now owns 2,811 shares of the utilities provider’s stock valued at $120,000 after acquiring an additional 262 shares during the period. Harbor Advisory Corp MA increased its position in shares of Brookfield Infrastructure Partners by 0.8% in the 2nd quarter. Harbor Advisory Corp MA now owns 133,246 shares of the utilities provider’s stock valued at $5,722,000 after acquiring an additional 1,093 shares during the period. Finally, Kayne Anderson Capital Advisors LP increased its position in shares of Brookfield Infrastructure Partners by 35.2% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 153,500 shares of the utilities provider’s stock valued at $6,589,000 after acquiring an additional 40,000 shares during the period. 48.23% of the stock is currently owned by hedge funds and other institutional investors.

BIP has been the topic of several research reports. TD Securities upped their target price on Brookfield Infrastructure Partners from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Raymond James increased their price target on Brookfield Infrastructure Partners from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Industrial Alliance Securities increased their price target on Brookfield Infrastructure Partners from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Bank of America increased their price target on Brookfield Infrastructure Partners from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada increased their price target on Brookfield Infrastructure Partners from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.41.

Shares of BIP stock traded up $0.56 during mid-day trading on Tuesday, hitting $44.62. 31,013 shares of the stock were exchanged, compared to its average volume of 338,755. The company has a market capitalization of $12.40 billion, a P/E ratio of 75.63, a PEG ratio of 0.93 and a beta of 0.90. Brookfield Infrastructure Partners L.P. has a 52-week low of $32.26 and a 52-week high of $44.74. The stock’s fifty day moving average price is $43.74.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.02. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Brookfield Infrastructure Partners had a net margin of 3.32% and a return on equity of 1.40%. The company’s revenue for the quarter was up 61.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. On average, equities analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.44 EPS for the current fiscal year.

Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.

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

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