Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC cut its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 2.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 30,371 shares of the utilities provider’s stock after selling 700 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Brookfield Infrastructure Partners were worth $1,064,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC purchased a new position in Brookfield Infrastructure Partners in the third quarter worth approximately $26,000. Clear Point Advisors Inc. acquired a new stake in shares of Brookfield Infrastructure Partners in the 1st quarter valued at $33,000. Bank & Trust Co purchased a new stake in shares of Brookfield Infrastructure Partners during the 2nd quarter worth $31,000. Park Place Capital Corp acquired a new position in shares of Brookfield Infrastructure Partners during the second quarter worth $41,000. Finally, Asset Dedication LLC purchased a new position in Brookfield Infrastructure Partners in the second quarter valued at $46,000. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE BIP opened at $35.30 on Tuesday. The stock has a market cap of $16.30 billion, a P/E ratio of -92.89 and a beta of 1.06. Brookfield Infrastructure Partners L.P. has a twelve month low of $24.84 and a twelve month high of $36.50. The stock has a 50 day moving average of $34.50 and a two-hundred day moving average of $31.64. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.405 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 annualized dividend and a yield of 4.59%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is -426.32%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Jefferies Financial Group upped their price objective 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. 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. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Cibc World Mkts upgraded shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Infrastructure Partners presently has a consensus rating of “Moderate Buy” and an average target price of $40.20.

Brookfield Infrastructure Partners Company 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.