Principal Securities Inc. Invests $182,000 in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Principal Securities Inc. purchased a new position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,769 shares of the utilities provider’s stock, valued at approximately $182,000.

A number of other large investors have also added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its position in Brookfield Infrastructure Partners by 20.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 56,487 shares of the utilities provider’s stock worth $1,661,000 after purchasing an additional 9,592 shares during the period. Park Avenue Securities LLC purchased a new position in Brookfield Infrastructure Partners in the 3rd quarter valued at approximately $219,000. Private Advisor Group LLC raised its holdings in Brookfield Infrastructure Partners by 2.7% during the 3rd quarter. Private Advisor Group LLC now owns 37,666 shares of the utilities provider’s stock valued at $1,107,000 after acquiring an additional 976 shares during the period. NBC Securities Inc. purchased a new stake in shares of Brookfield Infrastructure Partners during the third quarter worth $967,000. Finally, Avantax Planning Partners Inc. bought a new position in shares of Brookfield Infrastructure Partners in the third quarter worth $521,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

BIP stock opened at $30.65 on Friday. The firm has a market cap of $14.14 billion, a P/E ratio of 98.87 and a beta of 0.99. The firm’s fifty day moving average is $28.85 and its 200 day moving average is $29.18. Brookfield Infrastructure Partners L.P. has a 52 week low of $21.03 and a 52 week high of $37.32.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 522.58%.

Analyst Ratings Changes

BIP has been the subject of several analyst reports. National Bankshares downgraded Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 target price for the company. in a research note on Tuesday, January 30th. BMO Capital Markets decreased their target price on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Jefferies Financial Group cut their price target on shares of Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. StockNews.com lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, TD Securities lowered their price objective on Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and an average target price of $38.20.

About Brookfield Infrastructure Partners

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.