MAI Capital Management Lowers Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

MAI Capital Management cut its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,421 shares of the utilities provider’s stock after selling 441 shares during the period. MAI Capital Management’s holdings in Brookfield Infrastructure Partners were worth $4,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cedar Mountain Advisors LLC purchased a new position in Brookfield Infrastructure Partners in the third quarter worth about $26,000. Bank & Trust Co bought a new position in Brookfield Infrastructure Partners during the second quarter valued at $31,000. Clear Point Advisors Inc. purchased a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at $33,000. Park Place Capital Corp bought a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter worth about $41,000. Finally, Asset Dedication LLC purchased a new position in shares of Brookfield Infrastructure Partners during the 2nd quarter worth about $46,000. 57.92% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Partners Trading Down 0.1 %

BIP opened at $34.31 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72. The firm has a market cap of $15.84 billion, a price-to-earnings ratio of -90.29 and a beta of 1.06. Brookfield Infrastructure Partners L.P. has a 12 month low of $24.84 and a 12 month high of $36.50. The stock has a fifty day moving average price of $34.33 and a 200-day moving average price of $31.51.

Brookfield Infrastructure Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Infrastructure Partners’s payout ratio is -426.32%.

Analyst Ratings Changes

A number of research firms have weighed in on BIP. TD Securities increased their target price on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research report 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 Saturday. Finally, Jefferies Financial Group boosted their price target on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.20.

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 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.