Truvestments Capital LLC Takes $77,000 Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Truvestments Capital LLC bought a new stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) in the third quarter, HoldingsChannel.com reports. The firm bought 2,189 shares of the utilities provider’s stock, valued at approximately $77,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BIP. Principal Financial Group Inc. increased its holdings in Brookfield Infrastructure Partners by 2.7% in the third quarter. Principal Financial Group Inc. now owns 23,809,423 shares of the utilities provider’s stock valued at $834,282,000 after buying an additional 616,373 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Brookfield Infrastructure Partners by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,147,654 shares of the utilities provider’s stock worth $168,680,000 after acquiring an additional 257,587 shares in the last quarter. CCLA Investment Management lifted its stake in Brookfield Infrastructure Partners by 35.0% during the second quarter. CCLA Investment Management now owns 4,341,905 shares of the utilities provider’s stock worth $119,180,000 after purchasing an additional 1,125,964 shares during the last quarter. Select Equity Group L.P. lifted its stake in Brookfield Infrastructure Partners by 29.6% during the second quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock worth $115,326,000 after purchasing an additional 960,120 shares during the last quarter. Finally, AGF Management Ltd. boosted its holdings in Brookfield Infrastructure Partners by 26.1% in the second quarter. AGF Management Ltd. now owns 3,204,547 shares of the utilities provider’s stock valued at $88,027,000 after purchasing an additional 663,726 shares in the last quarter. 57.92% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP opened at $34.83 on Wednesday. Brookfield Infrastructure Partners L.P. has a one year low of $24.84 and a one year high of $36.50. The company has a 50-day simple moving average of $34.53 and a 200-day simple moving average of $31.67. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.77. The stock has a market capitalization of $16.08 billion, a price-to-earnings ratio of -91.66 and a beta of 1.06.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 4.65%. The ex-dividend date is Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio is presently -426.32%.

Analyst Ratings Changes

Several brokerages have recently weighed in on BIP. TD Securities boosted their price objective on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group upped their price objective on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.