Nexus Investment Management ULC lowered its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,149,797 shares of the utilities provider's stock after selling 35,487 shares during the quarter. Brookfield Infrastructure Partners comprises 3.6% of Nexus Investment Management ULC's holdings, making the stock its 9th largest holding. Nexus Investment Management ULC owned 0.25% of Brookfield Infrastructure Partners worth $36,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in BIP. Cedar Mountain Advisors LLC acquired a new stake in Brookfield Infrastructure Partners in the third quarter worth about $26,000. Dunhill Financial LLC acquired a new stake in Brookfield Infrastructure Partners in the third quarter worth about $30,000. Truvestments Capital LLC acquired a new stake in shares of Brookfield Infrastructure Partners during the third quarter worth about $77,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield Infrastructure Partners during the third quarter worth about $101,000. Finally, Eastern Bank acquired a new stake in shares of Brookfield Infrastructure Partners during the third quarter worth about $158,000. Institutional investors own 57.92% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the company. TD Securities lifted their target price on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. StockNews.com raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Finally, Jefferies Financial Group lifted their price target on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.20.
Get Our Latest Stock Report on Brookfield Infrastructure Partners
Brookfield Infrastructure Partners Stock Performance
BIP stock traded up $0.31 during trading on Friday, hitting $31.23. 273,009 shares of the company traded hands, compared to its average volume of 342,692. The stock's 50-day simple moving average is $33.15 and its 200 day simple moving average is $32.76. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.77 and a quick ratio of 0.72. The company has a market cap of $14.49 billion, a PE ratio of -82.17 and a beta of 1.07. Brookfield Infrastructure Partners L.P. has a 1 year low of $24.84 and a 1 year high of $36.50.
Brookfield Infrastructure Partners Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date was Friday, November 29th. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is presently -426.32%.
Brookfield Infrastructure Partners Company 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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