BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 493,729 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 76.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,488 shares of the utilities provider’s stock after selling 493,729 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Brookfield Infrastructure Partners were worth $5,211,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP boosted its holdings in Brookfield Infrastructure Partners by 197.9% in the 3rd quarter. GSA Capital Partners LLP now owns 71,941 shares of the utilities provider’s stock valued at $2,521,000 after purchasing an additional 47,792 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Brookfield Infrastructure Partners by 137.8% in the third quarter. Sequoia Financial Advisors LLC now owns 564,621 shares of the utilities provider’s stock valued at $19,784,000 after buying an additional 327,143 shares during the period. Coronation Fund Managers Ltd. grew its position in Brookfield Infrastructure Partners by 52.9% during the second quarter. Coronation Fund Managers Ltd. now owns 148,416 shares of the utilities provider’s stock worth $4,073,000 after buying an additional 51,378 shares in the last quarter. Inspire Investing LLC bought a new position in Brookfield Infrastructure Partners during the third quarter valued at about $894,000. Finally, Citigroup Inc. raised its holdings in Brookfield Infrastructure Partners by 159.5% in the 3rd quarter. Citigroup Inc. now owns 175,434 shares of the utilities provider’s stock valued at $6,147,000 after acquiring an additional 107,821 shares in the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

Brookfield Infrastructure Partners stock opened at $35.12 on Tuesday. The firm has a market capitalization of $16.22 billion, a P/E ratio of -92.42 and a beta of 1.06. The stock has a fifty day moving average price of $34.71 and a two-hundred day moving average price of $31.84. Brookfield Infrastructure Partners L.P. has a 52-week low of $24.84 and a 52-week high of $36.50. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.77 and a quick ratio of 0.72.

Brookfield Infrastructure Partners Dividend Announcement

The company 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 yield of 4.61%. The ex-dividend date is Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio is currently -426.32%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BIP shares. TD Securities boosted their price objective on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group boosted their price target on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Three equities 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.com, the company presently has a consensus 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.