AdvisorNet Financial Inc Trims Stock Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

AdvisorNet Financial Inc cut its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 34.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,505 shares of the utilities provider’s stock after selling 1,330 shares during the period. AdvisorNet Financial Inc’s holdings in Brookfield Infrastructure Partners were worth $80,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in Brookfield Infrastructure Partners by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 23,809,423 shares of the utilities provider’s stock worth $834,282,000 after purchasing an additional 616,373 shares during the period. The Manufacturers Life Insurance Company increased its position in Brookfield Infrastructure Partners by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,147,654 shares of the utilities provider’s stock worth $168,680,000 after purchasing an additional 257,587 shares during the period. Select Equity Group L.P. increased its position in Brookfield Infrastructure Partners by 29.6% during the 2nd quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock worth $115,326,000 after purchasing an additional 960,120 shares during the period. Toronto Dominion Bank increased its position in Brookfield Infrastructure Partners by 24.6% during the 3rd quarter. Toronto Dominion Bank now owns 4,003,231 shares of the utilities provider’s stock worth $140,273,000 after purchasing an additional 790,078 shares during the period. Finally, National Bank of Canada FI increased its position in Brookfield Infrastructure Partners by 5.4% during the 3rd quarter. National Bank of Canada FI now owns 2,550,270 shares of the utilities provider’s stock worth $89,362,000 after purchasing an additional 130,371 shares during the period. 57.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on BIP. 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 research report on Thursday, November 7th. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Jefferies Financial Group upped their price target on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.20.

Brookfield Infrastructure Partners Stock Performance

BIP opened at $31.23 on Friday. The stock has a market cap of $14.49 billion, a P/E ratio of -82.17 and a beta of 1.07. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.77 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $33.15 and its 200 day simple moving average is $32.73. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date was Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently -426.32%.

Brookfield Infrastructure Partners 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.