Brookfield Infrastructure Partners L.P. (NYSE:BIP) Holdings Decreased by Apollon Wealth Management LLC

Apollon Wealth Management LLC reduced its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 33.5% in the 3rd quarter, Holdings Channel reports. The fund owned 16,271 shares of the utilities provider’s stock after selling 8,190 shares during the period. Apollon Wealth Management LLC’s holdings in Brookfield Infrastructure Partners were worth $570,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its position in shares of Brookfield Infrastructure Partners by 137.8% in the third quarter. Sequoia Financial Advisors LLC now owns 564,621 shares of the utilities provider’s stock worth $19,784,000 after purchasing an additional 327,143 shares in the last quarter. Coronation Fund Managers Ltd. boosted its stake in shares of Brookfield Infrastructure Partners by 52.9% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 148,416 shares of the utilities provider’s stock valued at $4,073,000 after buying an additional 51,378 shares during the period. Inspire Investing LLC purchased a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter valued at $894,000. Value Partners Investments Inc. acquired a new position in shares of Brookfield Infrastructure Partners in the third quarter worth $596,000. Finally, AGF Management Ltd. raised its holdings in shares of Brookfield Infrastructure Partners by 26.1% during the second quarter. AGF Management Ltd. now owns 3,204,547 shares of the utilities provider’s stock worth $88,027,000 after acquiring an additional 663,726 shares in the last quarter. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on BIP. Jefferies Financial Group upped 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. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, TD Securities lifted their price objective on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Infrastructure Partners presently has an average rating of “Moderate Buy” and an average price target of $40.20.

Brookfield Infrastructure Partners Stock Up 0.4 %

Shares of Brookfield Infrastructure Partners stock opened at $34.20 on Friday. Brookfield Infrastructure Partners L.P. has a 12-month low of $24.84 and a 12-month high of $36.50. The company has a quick ratio of 0.76, a current ratio of 0.03 and a debt-to-equity ratio of 1.58. The stock has a 50 day moving average price of $34.28 and a two-hundred day moving average price of $31.44. The stock has a market capitalization of $15.79 billion, a P/E ratio of -90.00 and a beta of 1.06.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.405 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 4.74%. Brookfield Infrastructure Partners’s payout ratio is presently -426.32%.

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.