Montrusco Bolton Investments Inc. Sells 1,017,310 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Montrusco Bolton Investments Inc. trimmed its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 56.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 789,622 shares of the utilities provider’s stock after selling 1,017,310 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Brookfield Infrastructure Partners were worth $27,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. grew its position in Brookfield Infrastructure Partners by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 23,809,423 shares of the utilities provider’s stock worth $834,282,000 after acquiring an additional 616,373 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Brookfield Infrastructure Partners by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,147,654 shares of the utilities provider’s stock worth $168,680,000 after acquiring an additional 257,587 shares during the last quarter. CCLA Investment Management grew its position in Brookfield Infrastructure Partners by 35.0% during the 2nd quarter. CCLA Investment Management now owns 4,341,905 shares of the utilities provider’s stock worth $119,180,000 after acquiring an additional 1,125,964 shares during the last quarter. Select Equity Group L.P. grew its position in Brookfield Infrastructure Partners by 29.6% during the 2nd quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock worth $115,326,000 after acquiring an additional 960,120 shares during the last quarter. Finally, AGF Management Ltd. grew its position in Brookfield Infrastructure Partners by 26.1% during the 2nd quarter. AGF Management Ltd. now owns 3,204,547 shares of the utilities provider’s stock worth $88,027,000 after acquiring an additional 663,726 shares during the last quarter. 57.92% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Partners Price Performance

Shares of BIP stock opened at $34.75 on Friday. The stock has a market cap of $16.04 billion, a price-to-earnings ratio of -91.43 and a beta of 1.06. The business’s fifty day moving average is $34.47 and its 200 day moving average is $31.59. Brookfield Infrastructure Partners L.P. has a twelve month low of $24.84 and a twelve month high of $36.50. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is -426.32%.

Analyst Ratings Changes

BIP has been the topic of several recent research reports. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. TD Securities boosted their target price on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group boosted their target price 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. Finally, StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.20.

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.