Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,094,860 shares of the utilities provider’s stock after selling 52,794 shares during the quarter. The Manufacturers Life Insurance Company owned 1.32% of Brookfield Infrastructure Partners worth $213,661,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BIP. Wulff Hansen & CO. lifted its holdings in shares of Brookfield Infrastructure Partners by 2,562.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,615,448 shares of the utilities provider’s stock worth $44,328,000 after acquiring an additional 1,554,782 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 7.1% in the 2nd quarter. Principal Financial Group Inc. now owns 23,193,050 shares of the utilities provider’s stock worth $636,417,000 after acquiring an additional 1,540,223 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Brookfield Infrastructure Partners in the 3rd quarter worth approximately $410,650,000. Intact Investment Management Inc. acquired a new stake in Brookfield Infrastructure Partners during the 3rd quarter worth approximately $40,286,000. Finally, CCLA Investment Management lifted its holdings 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 buying an additional 1,125,964 shares in the last quarter. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Trading Down 1.2 %

Shares of NYSE:BIP opened at $34.83 on Wednesday. Brookfield Infrastructure Partners L.P. has a 52 week low of $24.84 and a 52 week high of $36.50. The company’s 50 day moving average is $34.53 and its two-hundred day moving average is $31.67. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72. The company has a market cap of $16.08 billion, a PE ratio of -91.66 and a beta of 1.06.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently announced 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. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date is Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is -426.32%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group increased their target price on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. TD Securities increased 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. StockNews.com upgraded 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 analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Infrastructure Partners currently 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.