Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 14.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,704,330 shares of the utilities provider's stock after selling 463,307 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.59% of Brookfield Infrastructure Partners worth $94,908,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BIP. Capital World Investors boosted its stake in shares of Brookfield Infrastructure Partners by 8.9% in the 1st quarter. Capital World Investors now owns 38,365,956 shares of the utilities provider's stock valued at $1,198,095,000 after buying an additional 3,141,038 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 2.7% in 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 last quarter. The Manufacturers Life Insurance Company raised 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 in the last quarter. CCLA Investment Management grew its holdings 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 worth $119,180,000 after acquiring an additional 1,125,964 shares during the last quarter. Finally, Select Equity Group L.P. grew its position in Brookfield Infrastructure Partners by 29.6% during the second quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider's stock valued at $115,326,000 after purchasing an additional 960,120 shares in the last quarter. Hedge funds and other institutional investors own 57.92% of the company's stock.
Brookfield Infrastructure Partners Stock Down 0.3 %
Shares of BIP traded down $0.12 during mid-day trading on Wednesday, reaching $34.19. The company's stock had a trading volume of 243,727 shares, compared to its average volume of 429,238. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.77 and a quick ratio of 0.72. Brookfield Infrastructure Partners L.P. has a 12-month low of $24.84 and a 12-month high of $36.50. The company's 50 day moving average is $34.38 and its 200 day moving average is $31.54. The stock has a market cap of $15.79 billion, a PE ratio of -89.08 and a beta of 1.06.
Brookfield Infrastructure Partners Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.405 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.62 annualized dividend and a yield of 4.74%. Brookfield Infrastructure Partners's dividend payout ratio is presently -426.32%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on BIP shares. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a "strong-buy" rating in a report on Friday, August 2nd. TD Securities upped their price objective on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Jefferies Financial Group increased their target price on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Three 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 data from MarketBeat.com, Brookfield Infrastructure Partners currently has an average rating of "Moderate Buy" and an average target price of $40.20.
Get Our Latest Stock Analysis on BIP
Brookfield Infrastructure Partners Profile
(
Free Report)
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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