Raymond James Trust N.A. Sells 296 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Raymond James Trust N.A. lessened its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,883 shares of the utilities provider’s stock after selling 296 shares during the period. Raymond James Trust N.A.’s holdings in Brookfield Infrastructure Partners were worth $416,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC bought a new stake in shares of Brookfield Infrastructure Partners in the third quarter worth $26,000. Bank & Trust Co bought a new stake in shares of Brookfield Infrastructure Partners during the 2nd quarter valued at about $31,000. Park Place Capital Corp purchased a new stake in shares of Brookfield Infrastructure Partners during the 2nd quarter valued at about $41,000. Asset Dedication LLC bought a new position in shares of Brookfield Infrastructure Partners in the 2nd quarter worth approximately $46,000. Finally, Eastern Bank purchased a new position in shares of Brookfield Infrastructure Partners in the third quarter worth approximately $158,000. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Stock Performance

NYSE BIP opened at $34.83 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 1.72. Brookfield Infrastructure Partners L.P. has a twelve month low of $24.84 and a twelve month high of $36.50. The business has a 50-day moving average price of $34.53 and a 200-day moving average price of $31.67. The firm has a market cap 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently -426.32%.

Analysts Set New Price Targets

BIP has been the topic of several recent research reports. Jefferies Financial Group increased their price target on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, TD Securities raised their price objective 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. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.