PCJ Investment Counsel Ltd. Buys 271,020 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

PCJ Investment Counsel Ltd. increased its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 72.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 645,740 shares of the utilities provider's stock after buying an additional 271,020 shares during the quarter. Brookfield Infrastructure Partners accounts for about 7.2% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 3rd largest position. PCJ Investment Counsel Ltd. owned 0.14% of Brookfield Infrastructure Partners worth $22,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Cedar Mountain Advisors LLC purchased a new position in shares of Brookfield Infrastructure Partners in the 3rd quarter worth about $26,000. Clear Point Advisors Inc. acquired a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter worth approximately $33,000. Bank & Trust Co purchased a new stake in Brookfield Infrastructure Partners during the second quarter worth approximately $31,000. Park Place Capital Corp purchased a new position in shares of Brookfield Infrastructure Partners in the 2nd quarter valued at about $41,000. Finally, Asset Dedication LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the 2nd quarter valued at $46,000. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BIP has been the topic of a number of research reports. StockNews.com raised shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a "strong-buy" rating in a report on Friday, August 2nd. Jefferies Financial Group raised their target price on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Finally, TD Securities raised their price target on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $40.20.

Brookfield Infrastructure Partners Stock Down 1.0 %

NYSE:BIP traded down $0.36 during trading hours on Wednesday, hitting $33.95. 138,277 shares of the company traded hands, compared to its average volume of 428,769. The company has a market cap of $15.68 billion, a PE ratio of -89.08 and a beta of 1.06. Brookfield Infrastructure Partners L.P. has a one year low of $24.84 and a one year high of $36.50. The firm's 50-day simple moving average is $34.38 and its 200-day simple moving average is $31.54. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 1.72.

Brookfield Infrastructure Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Friday, November 29th. Brookfield Infrastructure Partners's payout ratio is -426.32%.

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.