Beach Investment Counsel Inc. PA reduced its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP – Free Report) (TSE:BIP.UN) by 17.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,598 shares of the utilities provider’s stock after selling 17,725 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Brookfield Infrastructure Partners were worth $2,753,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the stock. Cedar Mountain Advisors LLC bought a new stake in Brookfield Infrastructure Partners during the 3rd quarter worth approximately $26,000. Dunhill Financial LLC bought a new position in Brookfield Infrastructure Partners in the 3rd quarter valued at $30,000. Truvestments Capital LLC acquired a new position in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at $77,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at $101,000. Finally, Eastern Bank acquired a new position in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at $158,000. 57.92% of the stock is currently owned by institutional investors.
Brookfield Infrastructure Partners Price Performance
BIP stock opened at $32.21 on Tuesday. The stock has a market cap of $14.95 billion, a PE ratio of 806.70 and a beta of 1.08. The stock has a 50-day moving average price of $32.79 and a two-hundred day moving average price of $32.97. The company has a current ratio of 0.08, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72. Brookfield Infrastructure Partners L.P. has a 1 year low of $24.84 and a 1 year high of $36.50.
Brookfield Infrastructure Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.43 dividend. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.72 annualized dividend and a dividend yield of 5.34%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 4,051.01%.
Analysts Set New Price Targets
Several brokerages recently commented on BIP. Raymond James raised their price objective on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 30th. TD Securities raised their price objective on Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 target price on shares of Brookfield Infrastructure Partners in a report on Friday. Finally, StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $42.80.
Check Out Our Latest Analysis on Brookfield Infrastructure Partners
About Brookfield Infrastructure Partners
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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