Wealth Enhancement Advisory Services LLC raised its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP – Free Report) (TSE:BIP.UN) by 7.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,110 shares of the utilities provider’s stock after acquiring an additional 1,173 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Brookfield Infrastructure Partners were worth $600,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Capital World Investors grew its stake in shares of Brookfield Infrastructure Partners by 8.9% during the first quarter. Capital World Investors now owns 38,365,956 shares of the utilities provider’s stock worth $1,198,095,000 after purchasing an additional 3,141,038 shares during the period. Principal Financial Group Inc. boosted its holdings in Brookfield Infrastructure Partners by 7.1% during the second quarter. Principal Financial Group Inc. now owns 23,193,050 shares of the utilities provider’s stock worth $636,417,000 after buying an additional 1,540,223 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of 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 buying an additional 257,587 shares during the period. CCLA Investment Management increased its stake in shares of Brookfield Infrastructure Partners by 35.0% in the 2nd quarter. CCLA Investment Management now owns 4,341,905 shares of the utilities provider’s stock valued at $119,180,000 after acquiring an additional 1,125,964 shares during the last quarter. Finally, Select Equity Group L.P. raised its position in shares of Brookfield Infrastructure Partners by 29.6% in the 2nd quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock valued at $115,326,000 after acquiring an additional 960,120 shares during the period. Institutional investors and hedge funds own 57.92% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Cibc World Mkts upgraded shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. Jefferies Financial Group boosted their price target on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a report on Monday, September 30th. TD Securities upped their price objective on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday. Finally, StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Sunday, September 15th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.20.
Brookfield Infrastructure Partners Price Performance
Shares of NYSE BIP opened at $34.21 on Friday. The company has a fifty day moving average price of $33.93 and a 200 day moving average price of $31.12. The firm has a market cap of $15.80 billion, a PE ratio of -201.22 and a beta of 1.06. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58. Brookfield Infrastructure Partners L.P. has a 1-year low of $24.84 and a 1-year high of $36.50.
Brookfield Infrastructure Partners Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.405 per share. The ex-dividend date is Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 4.74%. Brookfield Infrastructure Partners’s dividend payout ratio is currently -952.89%.
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.
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