First Manhattan Co. lifted its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,639,485 shares of the utilities provider’s stock after buying an additional 6,517 shares during the quarter. First Manhattan Co. owned approximately 0.63% of Brookfield Infrastructure Partners worth $70,727,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Capital World Investors raised its stake in Brookfield Infrastructure Partners by 58.9% during the 2nd quarter. Capital World Investors now owns 5,215,000 shares of the utilities provider’s stock worth $213,297,000 after acquiring an additional 1,932,672 shares during the period. Geneva Advisors LLC raised its stake in Brookfield Infrastructure Partners by 10.0% during the 2nd quarter. Geneva Advisors LLC now owns 1,430,385 shares of the utilities provider’s stock worth $58,517,000 after acquiring an additional 130,105 shares during the period. CIBC World Markets Inc. bought a new stake in shares of Brookfield Infrastructure Partners during the second quarter valued at approximately $57,006,000. Janus Henderson Group PLC bought a new stake in shares of Brookfield Infrastructure Partners during the second quarter valued at approximately $51,505,000. Finally, California Public Employees Retirement System grew its holdings in shares of Brookfield Infrastructure Partners by 5.7% in the second quarter. California Public Employees Retirement System now owns 553,050 shares of the utilities provider’s stock valued at $22,625,000 after purchasing an additional 29,600 shares in the last quarter. 34.47% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on BIP. BMO Capital Markets lowered shares of Brookfield Infrastructure Partners from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research note on Tuesday, August 22nd. Credit Suisse Group AG downgraded shares of Brookfield Infrastructure Partners from an “outperform” rating to a “neutral” rating and set a $44.00 target price for the company. in a report on Tuesday, August 22nd. TD Securities boosted their target price on shares of Brookfield Infrastructure Partners to $57.00 and gave the stock a “buy” rating in a report on Monday, September 18th. Scotiabank restated an “outperform” rating and set a $53.00 price target on shares of Brookfield Infrastructure Partners in a research note on Monday, September 18th. Finally, Royal Bank Of Canada upped their target price on Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $48.88.
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Shares of Brookfield Infrastructure Partners LP (NYSE:BIP) traded up $0.30 during midday trading on Tuesday, hitting $43.77. The stock had a trading volume of 274,000 shares, compared to its average volume of 382,319. The firm has a market cap of $16,840.00, a price-to-earnings ratio of 161.00, a PEG ratio of 1.26 and a beta of 1.06. Brookfield Infrastructure Partners LP has a 1-year low of $30.76 and a 1-year high of $44.91. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.61.
Brookfield Infrastructure Partners announced that its board has authorized a share buyback plan on Tuesday, November 7th that allows the company to repurchase 13,820,000 outstanding shares. This repurchase authorization allows the utilities provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be paid a $0.435 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 3.98%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 669.23%.
Brookfield Infrastructure Partners Profile
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).
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