ING Groep NV Raises Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

ING Groep NV grew its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 16.7% during the third quarter, Holdings Channel reports. The fund owned 219,452 shares of the utilities provider’s stock after purchasing an additional 31,452 shares during the period. ING Groep NV’s holdings in Brookfield Infrastructure Partners were worth $7,690,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BIP. Empower Advisory Group LLC bought a new position in shares of Brookfield Infrastructure Partners in the 3rd quarter worth about $229,000. GSA Capital Partners LLP increased its stake in shares of Brookfield Infrastructure Partners by 197.9% during the third quarter. GSA Capital Partners LLP now owns 71,941 shares of the utilities provider’s stock valued at $2,521,000 after purchasing an additional 47,792 shares in the last quarter. Tacita Capital Inc lifted its holdings in shares of Brookfield Infrastructure Partners by 0.6% during the third quarter. Tacita Capital Inc now owns 147,208 shares of the utilities provider’s stock valued at $5,173,000 after purchasing an additional 837 shares during the last quarter. Colonial River Investments LLC purchased a new stake in shares of Brookfield Infrastructure Partners in the 3rd quarter worth approximately $200,000. Finally, Axxcess Wealth Management LLC purchased a new stake in shares of Brookfield Infrastructure Partners in the 3rd quarter worth approximately $200,000. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP opened at $34.19 on Friday. The firm has a market capitalization of $15.79 billion, a P/E ratio of -89.97 and a beta of 1.06. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.03 and a quick ratio of 0.76. Brookfield Infrastructure Partners L.P. has a one year low of $24.84 and a one year high of $36.50. The business has a fifty day moving average of $34.28 and a 200 day moving average of $31.41.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.74%. Brookfield Infrastructure Partners’s dividend payout ratio is currently -426.32%.

Analyst Upgrades and Downgrades

BIP has been the topic of several analyst reports. Jefferies Financial Group boosted their target price on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday. Cibc World Mkts upgraded shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, TD Securities increased their price target 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. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield Infrastructure Partners presently has an average rating of “Moderate Buy” and a consensus target price of $40.20.

Brookfield Infrastructure Partners Company Profile

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.