Advisors Asset Management Inc. Boosts Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Advisors Asset Management Inc. boosted its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 4.6% in the third quarter, Holdings Channel.com reports. The fund owned 32,093 shares of the utilities provider’s stock after buying an additional 1,406 shares during the quarter. Advisors Asset Management Inc.’s holdings in Brookfield Infrastructure Partners were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of BIP. Wulff Hansen & CO. lifted its holdings in shares of Brookfield Infrastructure Partners by 2,562.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,615,448 shares of the utilities provider’s stock valued at $44,328,000 after purchasing an additional 1,554,782 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Brookfield Infrastructure Partners by 7.1% in the 2nd quarter. Principal Financial Group Inc. now owns 23,193,050 shares of the utilities provider’s stock valued at $636,417,000 after purchasing an additional 1,540,223 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Brookfield Infrastructure Partners in the third quarter valued at approximately $410,650,000. Intact Investment Management Inc. purchased a new stake in shares of Brookfield Infrastructure Partners during the third quarter worth approximately $40,286,000. Finally, CCLA Investment Management lifted its holdings 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 worth $119,180,000 after purchasing an additional 1,125,964 shares during the period. Institutional investors and hedge funds own 57.92% of the company’s stock.

Analysts Set New Price Targets

BIP has been the topic of several recent research reports. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. TD Securities boosted 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 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. Finally, Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.20.

Brookfield Infrastructure Partners Stock Up 1.6 %

BIP stock opened at $35.30 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72. The company’s 50-day moving average price is $34.50 and its 200 day moving average price is $31.64. Brookfield Infrastructure Partners L.P. has a 52 week low of $24.84 and a 52 week high of $36.50. The company has a market cap of $16.30 billion, a P/E ratio of -92.00 and a beta of 1.06.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently declared 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 4.59%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio is currently -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.