Bank of Montreal Can Has $1.39 Billion Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Bank of Montreal Can grew its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 9.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 25,391,329 shares of the utilities provider’s stock after acquiring an additional 2,132,089 shares during the quarter. Brookfield Infrastructure Partners comprises about 0.7% of Bank of Montreal Can’s investment portfolio, making the stock its 22nd biggest position. Bank of Montreal Can owned approximately 0.09% of Brookfield Infrastructure Partners worth $1,390,937,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. RMR Wealth Builders acquired a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at about $28,000. Sound Income Strategies LLC lifted its stake in shares of Brookfield Infrastructure Partners by 102.7% in the second quarter. Sound Income Strategies LLC now owns 592 shares of the utilities provider’s stock valued at $33,000 after buying an additional 300 shares during the period. Harbour Investments Inc. bought a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at about $43,000. Red Door Wealth Management LLC bought a new stake in shares of Brookfield Infrastructure Partners in the second quarter valued at about $51,000. Finally, BDO Wealth Advisors LLC bought a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at about $60,000. 52.54% of the stock is currently owned by institutional investors.

BIP has been the subject of several research reports. Zacks Investment Research upgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Friday. BMO Capital Markets initiated coverage on shares of Brookfield Infrastructure Partners in a research note on Thursday, September 9th. They issued an “outperform” rating and a $63.00 target price for the company. National Bankshares increased their target price on shares of Brookfield Infrastructure Partners from $60.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday. Raymond James reiterated an “outperform” rating and issued a $65.00 target price on shares of Brookfield Infrastructure Partners in a research note on Thursday, June 3rd. Finally, CIBC started coverage on shares of Brookfield Infrastructure Partners in a research note on Tuesday, June 22nd. They set an “outperform” rating for the company. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $64.00.

Shares of BIP opened at $55.77 on Monday. The stock has a market cap of $16.47 billion, a price-to-earnings ratio of 41.70 and a beta of 0.77. Brookfield Infrastructure Partners L.P. has a 12 month low of $42.29 and a 12 month high of $58.58. The company has a 50-day moving average price of $55.73 and a two-hundred day moving average price of $54.74.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Thursday, August 5th. The utilities provider reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.22). The firm had revenue of $2.66 billion for the quarter. Brookfield Infrastructure Partners had a return on equity of 3.55% and a net margin of 7.12%. On average, analysts expect that Brookfield Infrastructure Partners L.P. will post 3.48 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Tuesday, August 31st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Monday, August 30th. Brookfield Infrastructure Partners’s payout ratio is 582.86%.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners LP is an infrastructure company, which engages in the management of diversified portfolio of infrastructure assets that will generate sustainable and growing distributions over the long-term for unit holders. It operates through the following segments: Utilities, Transport, Energy, Data Infrastructure, and Corporate.

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

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