Franklin Resources Inc. lowered its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 37.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,053 shares of the utilities provider's stock after selling 48,199 shares during the period. Franklin Resources Inc.'s holdings in Brookfield Infrastructure Partners were worth $2,737,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Wulff Hansen & CO. raised its stake in Brookfield Infrastructure Partners by 2,562.9% in the second quarter. Wulff Hansen & CO. now owns 1,615,448 shares of the utilities provider's stock valued at $44,328,000 after purchasing an additional 1,554,782 shares in the last quarter. International Assets Investment Management LLC bought a new position in Brookfield Infrastructure Partners in the 3rd quarter valued at about $410,650,000. Intact Investment Management Inc. acquired a new position in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at approximately $40,286,000. CCLA Investment Management lifted its holdings in shares of Brookfield Infrastructure Partners by 35.0% during 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 period. Finally, Pathway Financial Advisers LLC boosted its position in shares of Brookfield Infrastructure Partners by 1,616.3% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,079,521 shares of the utilities provider's stock worth $37,826,000 after acquiring an additional 1,016,623 shares in the last quarter. Institutional investors and hedge funds own 57.92% of the company's stock.
Brookfield Infrastructure Partners Stock Down 0.1 %
BIP traded down $0.03 during midday trading on Thursday, reaching $31.97. 151,048 shares of the company were exchanged, compared to its average volume of 425,694. The company has a market cap of $14.76 billion, a price-to-earnings ratio of -84.13 and a beta of 1.05. Brookfield Infrastructure Partners L.P. has a one year low of $24.84 and a one year high of $36.50. The company's fifty day moving average price is $34.25 and its 200 day moving average price is $32.23. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.77.
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 given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Friday, November 29th. Brookfield Infrastructure Partners's payout ratio is currently -426.32%.
Analyst Upgrades and Downgrades
BIP has been the subject of a number of research reports. TD Securities increased their target price 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. Jefferies Financial Group raised their price objective on shares of 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, StockNews.com raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. 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 MarketBeat.com, Brookfield Infrastructure Partners presently has a consensus rating of "Moderate Buy" and an average target price of $40.20.
Read Our Latest Research Report on Brookfield Infrastructure Partners
About Brookfield Infrastructure Partners
(
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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