Northwest & Ethical Investments L.P. Buys New Shares in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Northwest & Ethical Investments L.P. acquired a new stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 73,105 shares of the utilities provider’s stock, valued at approximately $2,566,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cedar Mountain Advisors LLC bought a new stake in Brookfield Infrastructure Partners in the 3rd quarter valued at $26,000. Bank & Trust Co bought a new stake in shares of Brookfield Infrastructure Partners during the second quarter worth $31,000. Park Place Capital Corp bought a new position in shares of Brookfield Infrastructure Partners in the 2nd quarter valued at $41,000. Asset Dedication LLC bought a new stake in Brookfield Infrastructure Partners during the 2nd quarter worth $46,000. Finally, Truvestments Capital LLC acquired a new position in Brookfield Infrastructure Partners in the 3rd quarter worth about $77,000. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BIP. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group increased 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. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, TD Securities lifted their price target on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three research 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’s stock. According to data from MarketBeat, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and an average target price of $40.20.

Brookfield Infrastructure Partners Trading Up 0.1 %

Shares of Brookfield Infrastructure Partners stock opened at $34.98 on Friday. Brookfield Infrastructure Partners L.P. has a 1 year low of $24.84 and a 1 year high of $36.50. The company has a 50 day simple moving average of $34.69 and a two-hundred day simple moving average of $31.78. The firm has a market cap of $16.15 billion, a PE ratio of -92.04 and a beta of 1.06. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.77 and a quick ratio of 0.72.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 4.63%. The ex-dividend date is Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio is currently -426.32%.

Brookfield Infrastructure Partners 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.