B. Riley Wealth Advisors Inc. Invests $277,000 in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

B. Riley Wealth Advisors Inc. bought a new stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 8,073 shares of the utilities provider’s stock, valued at approximately $277,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIP. Principal Financial Group Inc. grew its holdings 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 valued at $834,282,000 after buying an additional 616,373 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Brookfield Infrastructure Partners by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 6,147,654 shares of the utilities provider’s stock valued at $168,680,000 after acquiring an additional 257,587 shares in the last quarter. CCLA Investment Management increased its holdings in Brookfield Infrastructure Partners by 35.0% in the 2nd quarter. CCLA Investment Management now owns 4,341,905 shares of the utilities provider’s stock valued at $119,180,000 after acquiring an additional 1,125,964 shares during the last quarter. Select Equity Group L.P. lifted its stake in Brookfield Infrastructure Partners by 29.6% in 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 purchasing an additional 960,120 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Brookfield Infrastructure Partners by 24.6% during the 3rd quarter. Toronto Dominion Bank now owns 4,003,231 shares of the utilities provider’s stock valued at $140,273,000 after purchasing an additional 790,078 shares during the last quarter. Institutional investors own 57.92% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on BIP. Jefferies Financial Group boosted their target price 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. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, TD Securities boosted their price target on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.20.

Brookfield Infrastructure Partners Stock Performance

NYSE BIP opened at $31.36 on Friday. The business’s 50 day moving average price is $34.41 and its 200-day moving average price is $32.17. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $24.84 and a fifty-two week high of $36.50. The company has a market cap of $14.48 billion, a P/E ratio of -82.53 and a beta of 1.05. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.77.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date is Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is -426.32%.

Brookfield Infrastructure Partners 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.