Mackenzie Financial Corp trimmed its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 402,000 shares of the utilities provider’s stock after selling 3,400 shares during the quarter. Mackenzie Financial Corp owned about 0.15% of Brookfield Infrastructure Partners worth $17,342,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in BIP. Capital World Investors raised its position in shares of Brookfield Infrastructure Partners by 58.9% during the 2nd quarter. Capital World Investors now owns 5,215,000 shares of the utilities provider’s stock worth $213,297,000 after purchasing an additional 1,932,672 shares during the period. CIBC World Markets Inc. bought a new position in Brookfield Infrastructure Partners in the 2nd quarter worth approximately $57,006,000. Janus Henderson Group PLC bought a new position in Brookfield Infrastructure Partners in the 2nd quarter worth approximately $51,505,000. TD Asset Management Inc. grew its holdings in Brookfield Infrastructure Partners by 13.6% in the 3rd quarter. TD Asset Management Inc. now owns 9,884,891 shares of the utilities provider’s stock worth $425,408,000 after buying an additional 1,183,668 shares in the last quarter. Finally, Ninepoint Partners LP bought a new position in Brookfield Infrastructure Partners in the 3rd quarter worth approximately $21,370,000. Institutional investors and hedge funds own 46.45% of the company’s stock.
A number of brokerages recently issued reports on BIP. National Bank Financial increased their price objective on Brookfield Infrastructure Partners from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Zacks Investment Research lowered Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. TD Securities increased their price objective on Brookfield Infrastructure Partners to $57.00 and gave the stock a “buy” rating in a report on Monday, September 18th. Royal Bank Of Canada increased their price objective on Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $59.50 price target on shares of Brookfield Infrastructure Partners in a research note on Tuesday, November 28th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Brookfield Infrastructure Partners currently has a consensus rating of “Buy” and an average price target of $50.15.
Shares of Brookfield Infrastructure Partners L.P. (NYSE BIP) opened at $43.91 on Thursday. The firm has a market capitalization of $12,123.39, a price-to-earnings ratio of 162.41, a PEG ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.23 and a current ratio of 0.23. Brookfield Infrastructure Partners L.P. has a one year low of $31.91 and a one year high of $44.91.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Wednesday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 644.44%.
Brookfield Infrastructure Partners announced that its board has authorized a stock repurchase program on Tuesday, November 7th that authorizes the company to buyback 13,820,000 shares. This buyback authorization authorizes the utilities provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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Brookfield Infrastructure Partners Company Profile
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).
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