Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Purchased by Addenda Capital Inc.

Addenda Capital Inc. grew its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 129.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 680,481 shares of the utilities provider’s stock after purchasing an additional 384,000 shares during the quarter. Addenda Capital Inc. owned 0.15% of Brookfield Infrastructure Partners worth $21,632,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Brookfield Infrastructure Partners during the third quarter worth about $410,650,000. Intact Investment Management Inc. acquired a new position in shares of Brookfield Infrastructure Partners in the 3rd quarter worth approximately $40,286,000. Pathway Financial Advisers LLC raised its holdings in shares of Brookfield Infrastructure Partners by 1,616.3% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,079,521 shares of the utilities provider’s stock worth $37,826,000 after purchasing an additional 1,016,623 shares in the last quarter. Select Equity Group L.P. lifted its stake in Brookfield Infrastructure Partners by 29.6% during the second quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock valued at $115,326,000 after purchasing an additional 960,120 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. boosted its holdings in Brookfield Infrastructure Partners by 101.0% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,587,548 shares of the utilities provider’s stock worth $55,783,000 after buying an additional 797,649 shares in the last quarter. Institutional investors own 57.92% of the company’s stock.

Wall Street Analyst Weigh In

BIP has been the topic of several research reports. TD Securities upped their price target on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group boosted their target price on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.20.

Brookfield Infrastructure Partners Price Performance

BIP opened at $31.23 on Tuesday. The firm has a market capitalization of $14.49 billion, a P/E ratio of -82.17 and a beta of 1.07. The stock has a fifty day moving average of $33.08 and a 200-day moving average of $32.78. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 1.72. Brookfield Infrastructure Partners L.P. has a 12-month low of $24.84 and a 12-month high of $36.50.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 5.19%. Brookfield Infrastructure Partners’s payout ratio is presently -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.