BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 76.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,488 shares of the utilities provider's stock after selling 493,729 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Brookfield Infrastructure Partners were worth $5,211,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BIP. Cedar Mountain Advisors LLC acquired a new stake in shares of Brookfield Infrastructure Partners in the third quarter valued at approximately $26,000. Asset Dedication LLC acquired a new stake in shares of Brookfield Infrastructure Partners in the second quarter valued at approximately $46,000. Truvestments Capital LLC acquired a new stake in shares of Brookfield Infrastructure Partners in the third quarter valued at approximately $77,000. Eastern Bank acquired a new stake in shares of Brookfield Infrastructure Partners in the third quarter valued at approximately $158,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Brookfield Infrastructure Partners in the second quarter valued at approximately $166,000. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Price Performance

Shares of BIP stock traded down $0.23 during mid-day trading on Tuesday, reaching $34.91. The stock had a trading volume of 253,825 shares, compared to its average volume of 325,581. Brookfield Infrastructure Partners L.P. has a 12-month low of $24.84 and a 12-month high of $36.50. The company has a market cap of $16.12 billion, a P/E ratio of -91.87 and a beta of 1.05. The business has a 50-day simple moving average of $34.73 and a 200 day simple moving average of $31.87. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Friday, November 29th. Brookfield Infrastructure Partners's dividend payout ratio is presently -426.32%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BIP. TD Securities increased their price objective on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, November 7th. StockNews.com raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Finally, Jefferies Financial Group increased 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 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.20.

Brookfield Infrastructure Partners Company 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.