Barclays PLC reduced its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP – Free Report) (TSE:BIP.UN) by 77.4% in the 2nd quarter, Holdings Channel reports. The firm owned 96,141 shares of the utilities provider’s stock after selling 329,934 shares during the quarter. Barclays PLC’s holdings in Brookfield Infrastructure Partners were worth $3,510,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in BIP. Bank of Montreal Can acquired a new stake in shares of Brookfield Infrastructure Partners in the second quarter valued at about $1,055,428,000. 1832 Asset Management L.P. increased its holdings in shares of Brookfield Infrastructure Partners by 5.5% in the first quarter. 1832 Asset Management L.P. now owns 16,615,699 shares of the utilities provider’s stock valued at $561,112,000 after purchasing an additional 865,468 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Brookfield Infrastructure Partners by 1.4% in the first quarter. Principal Financial Group Inc. now owns 14,635,188 shares of the utilities provider’s stock valued at $494,230,000 after purchasing an additional 203,820 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Brookfield Infrastructure Partners by 12.1% during the first quarter. Goldman Sachs Group Inc. now owns 6,344,597 shares of the utilities provider’s stock worth $420,203,000 after buying an additional 685,194 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Brookfield Infrastructure Partners by 2.8% during the fourth quarter. Morgan Stanley now owns 6,121,118 shares of the utilities provider’s stock worth $189,693,000 after buying an additional 169,285 shares during the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
BIP has been the topic of several analyst reports. Raymond James reduced their price target on Brookfield Infrastructure Partners from $45.00 to $40.00 and set a “strong-buy” rating on the stock in a report on Thursday, November 2nd. Royal Bank of Canada dropped their price target on shares of Brookfield Infrastructure Partners from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, November 2nd. BMO Capital Markets cut their price target on shares of Brookfield Infrastructure Partners from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. StockNews.com started coverage on Brookfield Infrastructure Partners in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, National Bank Financial raised Brookfield Infrastructure Partners from a “sector perform overweight” rating to an “outperform overweight” rating and set a $33.00 target price for the company in a research note on Wednesday, October 18th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $38.44.
Brookfield Infrastructure Partners Stock Down 1.4 %
BIP opened at $25.53 on Monday. The firm has a market cap of $11.71 billion, a P/E ratio of 82.35 and a beta of 0.93. Brookfield Infrastructure Partners L.P. has a 52 week low of $21.03 and a 52 week high of $38.20. The business has a fifty day simple moving average of $27.81 and a 200-day simple moving average of $32.46.
Brookfield Infrastructure Partners Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be paid a $0.382 dividend. This represents a $1.53 annualized dividend and a dividend yield of 5.99%. The ex-dividend date is Wednesday, November 29th. Brookfield Infrastructure Partners’s payout ratio is 493.55%.
Brookfield Infrastructure Partners 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 60,000 kilometers (km) of operational electricity transmission and distribution lines; 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.8 million electricity and natural gas connections; and 540,000 long-term contracted sub-metering services.
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