StockNews.com assumed coverage on shares of Brookfield Infrastructure Partners (NYSE:BIP – Get Rating) (TSE:BIP.UN) in a research note issued to investors on Thursday morning. The brokerage issued a hold rating on the utilities provider’s stock.
Separately, Raymond James cut their target price on Brookfield Infrastructure Partners from $47.00 to $45.00 and set an outperform rating on the stock in a report on Thursday, January 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $45.21.
Brookfield Infrastructure Partners Stock Down 0.5 %
Shares of BIP opened at $32.46 on Thursday. The company has a market capitalization of $14.88 billion, a PE ratio of 237.52 and a beta of 0.88. Brookfield Infrastructure Partners has a 12 month low of $30.03 and a 12 month high of $46.01. The stock’s 50-day moving average price is $34.13 and its two-hundred day moving average price is $35.41. The company has a current ratio of 0.56, a quick ratio of 0.05 and a debt-to-equity ratio of 1.08.
Brookfield Infrastructure Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Tuesday, February 28th will be given a $0.382 dividend. The ex-dividend date of this dividend is Monday, February 27th. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.36. This represents a $1.53 annualized dividend and a dividend yield of 4.71%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 1,119.57%.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Visionary Wealth Advisors raised its position in shares of Brookfield Infrastructure Partners by 58.3% in the 2nd quarter. Visionary Wealth Advisors now owns 15,671 shares of the utilities provider’s stock worth $599,000 after acquiring an additional 5,771 shares in the last quarter. B. Riley Wealth Management Inc. bought a new stake in Brookfield Infrastructure Partners in the 2nd quarter valued at about $290,000. CSS LLC IL increased its position in Brookfield Infrastructure Partners by 31.5% in the 2nd quarter. CSS LLC IL now owns 24,581 shares of the utilities provider’s stock valued at $939,000 after buying an additional 5,893 shares in the last quarter. Fort Sheridan Advisors LLC increased its position in Brookfield Infrastructure Partners by 13.1% in the 3rd quarter. Fort Sheridan Advisors LLC now owns 44,161 shares of the utilities provider’s stock valued at $1,585,000 after buying an additional 5,120 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Brookfield Infrastructure Partners by 9.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 394,196 shares of the utilities provider’s stock valued at $14,211,000 after buying an additional 32,550 shares in the last quarter. 57.81% of the stock is owned by institutional investors.
About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners LP is an infrastructure company, which engages in the management of diversified portfolio of infrastructure assets that will generate sustainable and growing distributions over the long-term for unit holders. It operates through the following segments: Utilities, Transport, Midstream, Data, and Corporate.
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