Fmr LLC Buys 11,217 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Fmr LLC boosted its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 87.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,090 shares of the utilities provider’s stock after purchasing an additional 11,217 shares during the period. Fmr LLC’s holdings in Brookfield Infrastructure Partners were worth $844,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Raymond James & Associates grew its stake in shares of Brookfield Infrastructure Partners by 2.2% in the second quarter. Raymond James & Associates now owns 573,801 shares of the utilities provider’s stock valued at $15,745,000 after buying an additional 12,207 shares in the last quarter. Tranquility Partners LLC increased its stake in shares of Brookfield Infrastructure Partners by 15.8% during the 2nd quarter. Tranquility Partners LLC now owns 79,167 shares of the utilities provider’s stock worth $2,172,000 after purchasing an additional 10,806 shares during the last quarter. Harbor Advisory Corp MA increased its stake in shares of Brookfield Infrastructure Partners by 0.5% during the 2nd quarter. Harbor Advisory Corp MA now owns 253,135 shares of the utilities provider’s stock worth $6,946,000 after purchasing an additional 1,142 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. raised its holdings in shares of Brookfield Infrastructure Partners by 0.7% in the 2nd quarter. Leith Wheeler Investment Counsel Ltd. now owns 417,307 shares of the utilities provider’s stock valued at $11,451,000 after purchasing an additional 3,090 shares during the period. Finally, Financial Advocates Investment Management lifted its stake in Brookfield Infrastructure Partners by 6.0% in the 2nd quarter. Financial Advocates Investment Management now owns 10,389 shares of the utilities provider’s stock valued at $285,000 after purchasing an additional 590 shares during the last quarter. 57.92% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE BIP opened at $32.49 on Wednesday. The firm has a market cap of $15.00 billion, a P/E ratio of -85.50 and a beta of 1.05. The business’s 50 day moving average is $34.60 and its 200-day moving average is $32.13. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72. Brookfield Infrastructure Partners L.P. has a 1-year low of $24.84 and a 1-year high of $36.50.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio is currently -426.32%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. TD Securities boosted their target price on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group increased their price target on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield Infrastructure Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.20.

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.