Barclays PLC raised its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP – Free Report) (TSE:BIP.UN) by 48.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 426,075 shares of the utilities provider’s stock after purchasing an additional 138,924 shares during the quarter. Barclays PLC owned about 0.09% of Brookfield Infrastructure Partners worth $14,387,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clear Street Markets LLC bought a new stake in shares of Brookfield Infrastructure Partners during the 4th quarter worth $38,000. Pacifica Partners Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 305.4% during the 1st quarter. Pacifica Partners Inc. now owns 1,792 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 1,350 shares in the last quarter. GPS Wealth Strategies Group LLC bought a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter worth $63,000. Power Corp of Canada bought a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter worth $73,000. Finally, Fairfield Bush & CO. bought a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter worth $81,000. 47.41% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on BIP shares. Wells Fargo & Company reduced their target price on Brookfield Infrastructure Partners from $41.00 to $37.00 and set an “overweight” rating for the company in a report on Friday. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Royal Bank of Canada decreased their target price on Brookfield Infrastructure Partners from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday. National Bankshares raised their target price on Brookfield Infrastructure Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Friday, May 5th. Finally, TD Securities raised their target price on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.83.
Brookfield Infrastructure Partners Trading Down 0.7 %
BIP opened at $32.51 on Tuesday. The stock has a market cap of $14.91 billion, a price-to-earnings ratio of 98.52 and a beta of 0.86. Brookfield Infrastructure Partners L.P. has a 1 year low of $30.03 and a 1 year high of $43.62. The stock has a fifty day moving average price of $35.76 and a 200 day moving average price of $34.92.
Brookfield Infrastructure Partners Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be given a $0.382 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.53 dividend on an annualized basis and a dividend yield of 4.70%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 463.64%.
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 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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