495,355 Shares in Brookfield Infrastructure Partners LP (BIP) Purchased by Ninepoint Partners LP

Ninepoint Partners LP purchased a new position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 495,355 shares of the utilities provider’s stock, valued at approximately $21,370,000. Brookfield Infrastructure Partners comprises about 1.5% of Ninepoint Partners LP’s portfolio, making the stock its 14th biggest position. Ninepoint Partners LP owned 0.14% of Brookfield Infrastructure Partners at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BIP. Commonwealth Equity Services Inc boosted its holdings in shares of Brookfield Infrastructure Partners by 3.3% in the 3rd quarter. Commonwealth Equity Services Inc now owns 66,435 shares of the utilities provider’s stock valued at $2,866,000 after buying an additional 2,128 shares during the last quarter. Strategic Wealth Advisors Group LLC acquired a new stake in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at approximately $453,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Brookfield Infrastructure Partners by 7.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 29,220 shares of the utilities provider’s stock valued at $1,261,000 after buying an additional 1,997 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of Brookfield Infrastructure Partners by 21.2% in the 3rd quarter. Advisor Group Inc. now owns 21,091 shares of the utilities provider’s stock valued at $911,000 after buying an additional 3,690 shares during the last quarter. Finally, Lucas Capital Management boosted its holdings in shares of Brookfield Infrastructure Partners by 3.8% in the 3rd quarter. Lucas Capital Management now owns 73,774 shares of the utilities provider’s stock valued at $3,183,000 after buying an additional 2,733 shares during the last quarter. 34.47% of the stock is owned by hedge funds and other institutional investors.

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Brookfield Infrastructure Partners LP (NYSE:BIP) traded up $0.42 on Thursday, reaching $44.10. The company had a trading volume of 229,801 shares, compared to its average volume of 381,196. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.61. The company has a market cap of $12,104.04, a PE ratio of 162.15, a PEG ratio of 1.27 and a beta of 1.06. Brookfield Infrastructure Partners LP has a twelve month low of $31.03 and a twelve month high of $44.91.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Wednesday, November 29th. Brookfield Infrastructure Partners’s payout ratio is 644.44%.

Brookfield Infrastructure Partners declared that its board has authorized a stock repurchase program on Tuesday, November 7th that permits the company to buyback 13,820,000 outstanding shares. This buyback authorization permits the utilities provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

BIP has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on Brookfield Infrastructure Partners in a report on Monday, September 11th. They issued an “outperform” rating and a $48.00 price objective for the company. BidaskClub raised Brookfield Infrastructure Partners from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Scotiabank reissued an “outperform” rating and issued a $53.00 price objective on shares of Brookfield Infrastructure Partners in a report on Monday, September 18th. Credit Suisse Group initiated coverage on Brookfield Infrastructure Partners in a research note on Monday, September 18th. They issued a “neutral” rating and a $44.00 price target on the stock. Finally, TD Securities increased their price target on Brookfield Infrastructure Partners from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $48.88.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).

Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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