Cannell & Co. Lowers Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Cannell & Co. trimmed its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,470 shares of the utilities provider’s stock after selling 7,583 shares during the period. Cannell & Co.’s holdings in Brookfield Infrastructure Partners were worth $5,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Horizons Wealth Management bought a new position in shares of Brookfield Infrastructure Partners during the 2nd quarter worth approximately $29,000. Acadian Asset Management LLC increased its position in shares of Brookfield Infrastructure Partners by 8,107.7% during the first quarter. Acadian Asset Management LLC now owns 1,067 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 1,054 shares in the last quarter. Power Corp of Canada purchased a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter valued at $73,000. Clear Street Markets LLC acquired a new stake in shares of Brookfield Infrastructure Partners in the 4th quarter worth $38,000. Finally, Fairfield Bush & CO. purchased a new position in Brookfield Infrastructure Partners during the 1st quarter worth $81,000. Institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

BIP has been the subject of several recent analyst reports. Credit Suisse Group reissued an “outperform” rating and issued a $44.00 price target on shares of Brookfield Infrastructure Partners in a report on Wednesday, August 30th. StockNews.com assumed coverage on Brookfield Infrastructure Partners in a research note on Thursday, October 5th. They issued a “hold” rating for the company. BMO Capital Markets dropped their price objective on Brookfield Infrastructure Partners from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. National Bankshares raised Brookfield Infrastructure Partners from a “sector perform” rating to an “outperform” rating and reduced their target price for the stock from $38.00 to $33.00 in a research note on Thursday, October 19th. Finally, Raymond James dropped their price target on shares of Brookfield Infrastructure Partners from $45.00 to $40.00 and set a “strong-buy” rating on the stock in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $38.44.

Brookfield Infrastructure Partners Trading Up 5.3 %

BIP stock opened at $26.69 on Wednesday. The firm has a 50-day moving average of $27.68 and a two-hundred day moving average of $32.40. Brookfield Infrastructure Partners L.P. has a 12 month low of $21.03 and a 12 month high of $38.20. The company has a market cap of $12.24 billion, a price-to-earnings ratio of 86.10 and a beta of 0.93.

Brookfield Infrastructure Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.382 per share. This represents a $1.53 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date is Wednesday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 493.55%.

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 60,000 kilometers (km) of operational electricity transmission and distribution lines; 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.8 million electricity and natural gas connections; and 540,000 long-term contracted sub-metering services.