6,974 Shares in Brookfield Infrastructure Partners L.P. (NYSE:BIP) Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC acquired a new position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,974 shares of the utilities provider’s stock, valued at approximately $244,000.

Several other large investors have also modified their holdings of BIP. Principal Financial Group Inc. boosted its holdings in Brookfield Infrastructure Partners by 2.7% during 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 period. Intact Investment Management Inc. purchased a new stake in shares of Brookfield Infrastructure Partners during the third quarter valued at $40,286,000. Pathway Financial Advisers LLC grew its holdings in shares of Brookfield Infrastructure Partners by 1,616.3% in the third quarter. Pathway Financial Advisers LLC now owns 1,079,521 shares of the utilities provider’s stock worth $37,826,000 after purchasing an additional 1,016,623 shares during the last quarter. Insight Folios Inc increased its stake in Brookfield Infrastructure Partners by 3.2% in the 3rd quarter. Insight Folios Inc now owns 16,741 shares of the utilities provider’s stock worth $587,000 after buying an additional 525 shares during the period. Finally, Boston Trust Walden Corp purchased a new stake in Brookfield Infrastructure Partners in the 3rd quarter valued at about $212,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Trading Down 0.1 %

Shares of NYSE:BIP opened at $34.79 on Wednesday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.03 and a quick ratio of 0.76. The firm has a market capitalization of $16.06 billion, a P/E ratio of -91.55 and a beta of 1.06. The business’s 50-day moving average is $34.10 and its 200 day moving average is $31.32. Brookfield Infrastructure Partners L.P. has a 1 year low of $24.84 and a 1 year high of $36.50.

Brookfield Infrastructure Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 4.66%. Brookfield Infrastructure Partners’s payout ratio is -426.32%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. 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 upped their price objective on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. StockNews.com lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Finally, TD Securities increased their price target on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.20.

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.