Dixon Mitchell Investment Counsel Inc. Acquires 589 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Dixon Mitchell Investment Counsel Inc. grew its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,588,137 shares of the utilities provider’s stock after acquiring an additional 589 shares during the quarter. Brookfield Infrastructure Partners makes up 2.3% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 19th biggest holding. Dixon Mitchell Investment Counsel Inc.’s holdings in Brookfield Infrastructure Partners were worth $50,442,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BIP. Cedar Mountain Advisors LLC bought a new stake in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at approximately $26,000. Dunhill Financial LLC purchased a new stake in Brookfield Infrastructure Partners during the 3rd quarter valued at $30,000. Truvestments Capital LLC bought a new stake in Brookfield Infrastructure Partners in the third quarter worth $77,000. Wilmington Savings Fund Society FSB purchased a new position in Brookfield Infrastructure Partners during the third quarter worth $101,000. Finally, Eastern Bank bought a new position in Brookfield Infrastructure Partners during the third quarter valued at $158,000. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE:BIP opened at $31.19 on Thursday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.77. The firm has a market cap of $14.48 billion, a PE ratio of -82.08 and a beta of 1.07. The firm’s 50 day simple moving average is $33.28 and its 200-day simple moving average is $32.68. Brookfield Infrastructure Partners L.P. has a one year low of $24.84 and a one year high of $36.50.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently announced 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. This represents a $1.62 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date was Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently -426.32%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BIP. TD Securities raised their target price on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group raised their price objective on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock 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 equities 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.