IFG Advisory LLC bought a new stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP – Free Report) (TSE:BIP.UN) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 40,143 shares of the utilities provider’s stock, valued at approximately $1,102,000.
A number of other large investors also recently made changes to their positions in the business. Cullen Frost Bankers Inc. acquired a new position in Brookfield Infrastructure Partners in the 4th quarter valued at approximately $30,000. Heritage Wealth Advisors acquired a new position in shares of Brookfield Infrastructure Partners in the fourth quarter worth $31,000. Bank & Trust Co purchased a new stake in shares of Brookfield Infrastructure Partners during the second quarter worth $31,000. Clear Point Advisors Inc. acquired a new stake in Brookfield Infrastructure Partners during the first quarter valued at $33,000. Finally, Bromfield Sneider Wealth Advisors purchased a new position in Brookfield Infrastructure Partners in the first quarter valued at about $39,000. Institutional investors and hedge funds own 57.92% of the company’s stock.
Brookfield Infrastructure Partners Stock Up 0.2 %
BIP opened at $32.15 on Friday. The firm has a market cap of $14.91 billion, a P/E ratio of 103.71 and a beta of 1.03. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.76 and a current ratio of 0.81. The business has a 50 day moving average price of $30.37 and a 200 day moving average price of $29.50. Brookfield Infrastructure Partners L.P. has a twelve month low of $21.03 and a twelve month high of $33.23.
Brookfield Infrastructure Partners Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 5.04%. The ex-dividend date is Friday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 522.58%.
Wall Street Analysts Forecast Growth
BIP has been the subject of a number of recent research reports. Cibc World Mkts raised Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.56.
View Our Latest Report on Brookfield Infrastructure Partners
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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