The Manufacturers Life Insurance Company decreased its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,094,860 shares of the utilities provider's stock after selling 52,794 shares during the quarter. The Manufacturers Life Insurance Company owned 1.32% of Brookfield Infrastructure Partners worth $213,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of BIP. Principal Financial Group Inc. grew its stake in shares of Brookfield Infrastructure Partners by 2.7% during the third quarter. Principal Financial Group Inc. now owns 23,809,423 shares of the utilities provider's stock valued at $834,282,000 after buying an additional 616,373 shares during the last quarter. CCLA Investment Management lifted its position in Brookfield Infrastructure Partners by 35.0% in the second quarter. CCLA Investment Management now owns 4,341,905 shares of the utilities provider's stock valued at $119,180,000 after purchasing an additional 1,125,964 shares during the last quarter. Select Equity Group L.P. increased its stake in shares of Brookfield Infrastructure Partners by 29.6% in the second quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider's stock worth $115,326,000 after buying an additional 960,120 shares during the period. AGF Management Ltd. grew its holdings in Brookfield Infrastructure Partners by 26.1% in the 2nd quarter. AGF Management Ltd. now owns 3,204,547 shares of the utilities provider's stock worth $88,027,000 after acquiring an additional 663,726 shares during the last quarter. Finally, Wulff Hansen & CO. raised its stake in shares of Brookfield Infrastructure Partners by 2,562.9% during the second quarter. Wulff Hansen & CO. now owns 1,615,448 shares of the utilities provider's stock valued at $44,328,000 after acquiring an additional 1,554,782 shares during the last quarter. Hedge funds and other institutional investors own 57.92% of the company's stock.
Brookfield Infrastructure Partners Stock Up 1.5 %
Brookfield Infrastructure Partners stock traded up $0.52 during midday trading on Wednesday, reaching $35.35. 259,314 shares of the company traded hands, compared to its average volume of 426,521. 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 quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 1.72. The business has a 50 day moving average of $34.57 and a two-hundred day moving average of $31.70.
Brookfield Infrastructure Partners Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Friday, November 29th. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is presently -426.32%.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. StockNews.com raised shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. TD Securities lifted their price target 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, November 7th. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a "strong-buy" rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group upped their price target 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 equities research 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $40.20.
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About Brookfield Infrastructure Partners
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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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