Principal Financial Group Inc. Boosts Stock Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Principal Financial Group Inc. grew its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 2.7% in the third quarter, Holdings Channel reports. The firm owned 23,809,423 shares of the utilities provider’s stock after buying an additional 616,373 shares during the quarter. Principal Financial Group Inc. owned 0.05% of Brookfield Infrastructure Partners worth $834,282,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. NBC Securities Inc. lifted its holdings in Brookfield Infrastructure Partners by 1.0% in the second quarter. NBC Securities Inc. now owns 40,471 shares of the utilities provider’s stock valued at $1,110,000 after acquiring an additional 381 shares during the period. Creative Planning boosted its holdings in shares of Brookfield Infrastructure Partners by 0.6% in the third quarter. Creative Planning now owns 67,445 shares of the utilities provider’s stock worth $2,363,000 after buying an additional 389 shares during the last quarter. Callahan Advisors LLC grew its position in Brookfield Infrastructure Partners by 2.1% during the second quarter. Callahan Advisors LLC now owns 22,129 shares of the utilities provider’s stock valued at $607,000 after buying an additional 450 shares during the period. Insight Folios Inc increased its holdings in Brookfield Infrastructure Partners by 3.2% during the third quarter. Insight Folios Inc now owns 16,741 shares of the utilities provider’s stock valued at $587,000 after buying an additional 525 shares during the last quarter. Finally, Financial Advocates Investment Management raised its position in Brookfield Infrastructure Partners by 6.0% in the second quarter. Financial Advocates Investment Management now owns 10,389 shares of the utilities provider’s stock worth $285,000 after acquiring an additional 590 shares during the period. 57.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BIP. Jefferies Financial Group boosted their price objective on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Sunday, September 15th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Infrastructure Partners has an average rating of “Moderate Buy” and an average price target of $39.40.

Brookfield Infrastructure Partners Stock Performance

BIP opened at $34.70 on Thursday. The stock has a market capitalization of $16.10 billion, a price-to-earnings ratio of -204.12 and a beta of 1.06. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $24.84 and a fifty-two week high of $36.50. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.76 and a current ratio of 0.81. The company has a fifty day moving average of $33.90 and a 200 day moving average of $31.10.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced 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. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently -952.94%.

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.