73,105 Shares in Brookfield Infrastructure Partners L.P. (NYSE:BIP) Purchased by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. purchased a new stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 73,105 shares of the utilities provider's stock, valued at approximately $2,566,000.

Several other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in Brookfield Infrastructure Partners by 2.7% in the third 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 period. The Manufacturers Life Insurance Company grew its holdings in Brookfield Infrastructure Partners by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 6,147,654 shares of the utilities provider's stock valued at $168,680,000 after purchasing an additional 257,587 shares during the period. CCLA Investment Management lifted its holdings in Brookfield Infrastructure Partners by 35.0% during 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 in the last quarter. Select Equity Group L.P. boosted its holdings in Brookfield Infrastructure Partners by 29.6% in the 2nd 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. Finally, AGF Management Ltd. grew its position in shares of Brookfield Infrastructure Partners by 26.1% during the second quarter. AGF Management Ltd. now owns 3,204,547 shares of the utilities provider's stock worth $88,027,000 after purchasing an additional 663,726 shares in the last quarter. 57.92% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Partners Stock Up 0.1 %

Shares of BIP traded up $0.02 during midday trading on Friday, hitting $34.97. The company had a trading volume of 328,030 shares, compared to its average volume of 426,104. The stock has a market cap of $16.15 billion, a price-to-earnings ratio of -92.04 and a beta of 1.06. The company's 50 day moving average price is $34.69 and its 200 day moving average price is $31.78. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 1.72. Brookfield Infrastructure Partners L.P. has a 52 week low of $24.84 and a 52 week high of $36.50.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.63%. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is presently -426.32%.

Analysts Set New Price Targets

Several research firms have commented on BIP. StockNews.com raised shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. TD Securities lifted their price objective on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Cibc World Mkts raised Brookfield Infrastructure Partners to a "strong-buy" rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group increased their price target on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.20.

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.