6,168 Shares in Brookfield Infrastructure Partners L.P. (NYSE:BIP) Acquired by Ascent Group LLC

Ascent Group LLC purchased a new stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the third quarter, Holdings Channel reports. The firm purchased 6,168 shares of the utilities provider’s stock, valued at approximately $216,000.

A number of other large investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Brookfield Infrastructure Partners by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 23,809,423 shares of the utilities provider’s stock valued at $834,282,000 after acquiring an additional 616,373 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Brookfield Infrastructure Partners by 4.4% in the second quarter. The Manufacturers Life Insurance Company now owns 6,147,654 shares of the utilities provider’s stock worth $168,680,000 after buying an additional 257,587 shares during the period. CCLA Investment Management boosted its position in shares of 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 shares of Brookfield Infrastructure Partners by 29.6% during the 2nd quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock valued at $115,326,000 after buying an additional 960,120 shares in the last quarter. Finally, AGF Management Ltd. increased its stake 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 valued at $88,027,000 after purchasing an additional 663,726 shares in the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on BIP. TD Securities upped their price target on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group raised their price target on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.20.

Brookfield Infrastructure Partners Price Performance

NYSE:BIP opened at $34.92 on Friday. The business’s 50-day simple moving average is $34.74 and its two-hundred day simple moving average is $31.91. 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. The stock has a market cap of $16.12 billion, a PE ratio of -91.89 and a beta of 1.05.

Brookfield Infrastructure Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently -426.32%.

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.