Brookfield Infrastructure Partners (NYSE:BIP) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) from a sell rating to a hold rating in a research note released on Saturday.

Several other research firms have also recently issued reports on BIP. Jefferies Financial Group raised their price objective on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. Finally, TD Securities raised their price objective on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three equities research 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 Stock Performance

Brookfield Infrastructure Partners stock opened at $34.37 on Friday. Brookfield Infrastructure Partners has a fifty-two week low of $24.84 and a fifty-two week high of $36.50. The stock has a fifty day moving average of $34.28 and a two-hundred day moving average of $31.47. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.76 and a current ratio of 0.77. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of -90.61 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 issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Friday, November 29th. Brookfield Infrastructure Partners’s payout ratio is currently -426.32%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its holdings in Brookfield Infrastructure Partners by 24.6% in the third quarter. Toronto Dominion Bank now owns 4,003,231 shares of the utilities provider’s stock valued at $140,273,000 after acquiring an additional 790,078 shares during the last quarter. Empire Financial Management Company LLC boosted its holdings in Brookfield Infrastructure Partners by 46.8% in the third quarter. Empire Financial Management Company LLC now owns 34,719 shares of the utilities provider’s stock valued at $1,217,000 after acquiring an additional 11,069 shares during the last quarter. Dunhill Financial LLC acquired a new position in Brookfield Infrastructure Partners in the third quarter valued at $30,000. National Bank of Canada FI boosted its holdings in Brookfield Infrastructure Partners by 5.4% in the third quarter. National Bank of Canada FI now owns 2,550,270 shares of the utilities provider’s stock valued at $89,362,000 after acquiring an additional 130,371 shares during the last quarter. Finally, Voya Financial Advisors Inc. acquired a new position in shares of Brookfield Infrastructure Partners during the third quarter worth about $207,000. Institutional investors and hedge funds own 57.92% of the company’s stock.

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.