Fmr LLC Acquires 11,217 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Fmr LLC lifted its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 87.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 24,090 shares of the utilities provider’s stock after purchasing an additional 11,217 shares during the quarter. Fmr LLC’s holdings in Brookfield Infrastructure Partners were worth $844,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC bought a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter valued at $26,000. Asset Dedication LLC bought a new stake in Brookfield Infrastructure Partners during the second quarter worth about $46,000. Truvestments Capital LLC acquired a new stake in Brookfield Infrastructure Partners during the third quarter worth about $77,000. Eastern Bank bought a new position in Brookfield Infrastructure Partners in the 3rd quarter valued at about $158,000. Finally, Colonial River Investments LLC acquired a new position in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at approximately $200,000. Institutional investors and hedge funds own 57.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BIP. TD Securities increased their price target on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Jefferies Financial Group lifted their price target on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research note 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.20.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP opened at $32.49 on Wednesday. Brookfield Infrastructure Partners L.P. has a one year low of $24.84 and a one year 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. The company has a market cap of $15.00 billion, a price-to-earnings ratio of -85.50 and a beta of 1.05. The firm has a 50 day simple moving average of $34.60 and a 200 day simple moving average of $32.13.

Brookfield Infrastructure Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Infrastructure Partners’s payout ratio is -426.32%.

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.