Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 27.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 154,181 shares of the utilities provider’s stock after selling 59,503 shares during the period. HighTower Advisors LLC’s holdings in Brookfield Infrastructure Partners were worth $5,413,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Citigroup Inc. lifted its position in Brookfield Infrastructure Partners by 159.5% during the third quarter. Citigroup Inc. now owns 175,434 shares of the utilities provider’s stock valued at $6,147,000 after purchasing an additional 107,821 shares during the period. GSA Capital Partners LLP raised its stake in shares of Brookfield Infrastructure Partners by 197.9% during the 3rd quarter. GSA Capital Partners LLP now owns 71,941 shares of the utilities provider’s stock valued at $2,521,000 after buying an additional 47,792 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new position in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at about $2,566,000. Sequoia Financial Advisors LLC boosted 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 worth $19,784,000 after buying an additional 327,143 shares during the last quarter. Finally, Coronation Fund Managers Ltd. grew its holdings 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 acquiring an additional 51,378 shares during the period. 57.92% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Stock Performance

NYSE:BIP opened at $34.44 on Wednesday. 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 $15.90 billion, a PE ratio of -90.63 and a beta of 1.05. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $24.84 and a fifty-two week high of $36.50. The company has a fifty day moving average of $34.70 and a two-hundred day moving average of $32.02.

Brookfield Infrastructure Partners Announces Dividend

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 given a dividend of $0.405 per share. The ex-dividend date is Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 4.70%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently -426.32%.

Wall Street Analyst Weigh In

BIP has been the subject of a number of analyst reports. 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. StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, TD Securities raised their price target on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. 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 company. According to data from MarketBeat, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and a consensus target price 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.