ING Groep NV Has $7.69 Million Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

ING Groep NV boosted its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 16.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 219,452 shares of the utilities provider's stock after buying an additional 31,452 shares during the quarter. ING Groep NV's holdings in Brookfield Infrastructure Partners were worth $7,690,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Cedar Mountain Advisors LLC bought a new stake in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at approximately $26,000. Clear Point Advisors Inc. bought a new position in shares of Brookfield Infrastructure Partners during the 1st quarter valued at $33,000. Bank & Trust Co acquired a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter valued at $31,000. Park Place Capital Corp acquired a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter valued at $41,000. Finally, Asset Dedication LLC bought a new stake in Brookfield Infrastructure Partners in the second quarter worth $46,000. Institutional investors and hedge funds own 57.92% of the company's stock.

Analyst Ratings Changes

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

Brookfield Infrastructure Partners Trading Up 0.4 %

Shares of BIP traded up $0.15 during trading hours on Friday, reaching $34.20. The stock had a trading volume of 362,559 shares, compared to its average volume of 431,114. The company has a market cap of $15.79 billion, a P/E ratio of -89.97 and a beta of 1.06. Brookfield Infrastructure Partners L.P. has a 52 week low of $24.84 and a 52 week high of $36.50. The company has a quick ratio of 0.76, a current ratio of 0.03 and a debt-to-equity ratio of 1.58. The firm has a 50-day moving average of $34.28 and a 200 day moving average of $31.41.

Brookfield Infrastructure Partners Dividend Announcement

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 issued a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is presently -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.