Brookfield Infrastructure Partners L.P. (NYSE:BIP) Sees Large Decrease in Short Interest

Brookfield Infrastructure Partners L.P. (NYSE:BIPGet Free Report) (TSE:BIP.UN) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 1,960,000 shares, a decline of 21.3% from the January 15th total of 2,490,000 shares. Based on an average daily trading volume, of 538,300 shares, the days-to-cover ratio is currently 3.6 days.

Hedge Funds Weigh In On Brookfield Infrastructure Partners

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fairfield Bush & CO. purchased a new stake in Brookfield Infrastructure Partners in the first quarter valued at $81,000. JPMorgan Chase & Co. grew its stake in shares of Brookfield Infrastructure Partners by 58.6% in the 1st quarter. JPMorgan Chase & Co. now owns 6,090 shares of the utilities provider’s stock valued at $403,000 after buying an additional 2,250 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Brookfield Infrastructure Partners by 9.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,645 shares of the utilities provider’s stock valued at $904,000 after buying an additional 1,230 shares during the period. Blair William & Co. IL raised its position in shares of Brookfield Infrastructure Partners by 8.3% during the 1st quarter. Blair William & Co. IL now owns 29,899 shares of the utilities provider’s stock valued at $1,980,000 after buying an additional 2,287 shares during the period. Finally, Equitable Holdings Inc. purchased a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter valued at approximately $201,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Stock Up 1.4 %

Shares of NYSE:BIP opened at $31.60 on Tuesday. Brookfield Infrastructure Partners has a 1 year low of $21.03 and a 1 year high of $37.32. The business has a 50 day simple moving average of $30.49 and a two-hundred day simple moving average of $29.58. The firm has a market capitalization of $14.49 billion, a PE ratio of 225.69 and a beta of 0.98. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.54 and a quick ratio of 0.66.

Brookfield Infrastructure Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, February 29th will be paid a $0.405 dividend. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.62 dividend on an annualized basis and a yield of 5.13%. Brookfield Infrastructure Partners’s payout ratio is 1,092.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BIP shares. National Bank Financial lowered Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, January 30th. BMO Capital Markets upped their price target on Brookfield Infrastructure Partners from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 10th. TD Securities cut their target price on Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Royal Bank of Canada cut their target price on Brookfield Infrastructure Partners from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd. Finally, Raymond James increased their price target on Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the company a “strong-buy” rating in a report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.11.

Get Our Latest Analysis on BIP

About Brookfield Infrastructure Partners

(Get Free Report)

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.

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