Beacon Pointe Advisors LLC reduced its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP – Free Report) (TSE:BIP.UN) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,185 shares of the utilities provider’s stock after selling 4,696 shares during the period. Beacon Pointe Advisors LLC’s holdings in Brookfield Infrastructure Partners were worth $2,273,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new position in shares of Brookfield Infrastructure Partners in the fourth quarter worth approximately $30,000. Rational Advisors LLC bought a new stake in Brookfield Infrastructure Partners in the 3rd quarter worth $39,000. CWM LLC increased its position in shares of Brookfield Infrastructure Partners by 33.7% in the fourth quarter. CWM LLC now owns 2,986 shares of the utilities provider’s stock valued at $94,000 after acquiring an additional 753 shares during the period. Acadian Asset Management LLC bought a new position in shares of Brookfield Infrastructure Partners during the third quarter valued at about $182,000. Finally, Principal Securities Inc. bought a new position in shares of Brookfield Infrastructure Partners during the fourth quarter valued at about $182,000. 57.92% of the stock is owned by hedge funds and other institutional investors.
Brookfield Infrastructure Partners Trading Up 0.6 %
Shares of BIP stock opened at $30.65 on Monday. The company’s fifty day moving average price is $28.85 and its 200-day moving average price is $29.26. The stock has a market cap of $14.14 billion, a PE ratio of 98.87 and a beta of 0.99. Brookfield Infrastructure Partners L.P. has a 12 month low of $21.03 and a 12 month high of $37.32.
Brookfield Infrastructure Partners Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Infrastructure Partners’s dividend payout ratio is 522.58%.
Analyst Ratings Changes
BIP has been the topic of a number of research analyst reports. TD Securities reduced their price target on Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Jefferies Financial Group reduced their target price on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. StockNews.com downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. National Bank Financial cut shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 30th. Finally, BMO Capital Markets reduced their price objective on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.20.
Read Our Latest Stock Analysis on BIP
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.
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