MAI Capital Management Reduces Stock Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

MAI Capital Management cut its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 122,421 shares of the utilities provider’s stock after selling 441 shares during the quarter. MAI Capital Management’s holdings in Brookfield Infrastructure Partners were worth $4,290,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. NBC Securities Inc. increased its holdings in shares of Brookfield Infrastructure Partners by 1.0% in the second quarter. NBC Securities Inc. now owns 40,471 shares of the utilities provider’s stock valued at $1,110,000 after purchasing an additional 381 shares during the period. Creative Planning raised its position in Brookfield Infrastructure Partners by 0.6% during the 3rd quarter. Creative Planning now owns 67,445 shares of the utilities provider’s stock worth $2,363,000 after buying an additional 389 shares during the last quarter. Callahan Advisors LLC lifted its stake in Brookfield Infrastructure Partners by 2.1% during the 2nd quarter. Callahan Advisors LLC now owns 22,129 shares of the utilities provider’s stock valued at $607,000 after acquiring an additional 450 shares during the period. Insight Folios Inc boosted its holdings in shares of Brookfield Infrastructure Partners by 3.2% in the 3rd quarter. Insight Folios Inc now owns 16,741 shares of the utilities provider’s stock valued at $587,000 after acquiring an additional 525 shares during the last quarter. Finally, Financial Advocates Investment Management increased its stake in shares of Brookfield Infrastructure Partners by 6.0% in the second quarter. Financial Advocates Investment Management now owns 10,389 shares of the utilities provider’s stock worth $285,000 after acquiring an additional 590 shares during the period. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Trading Down 0.1 %

Shares of NYSE:BIP opened at $34.31 on Wednesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.77 and a quick ratio of 0.72. The business’s 50 day moving average price is $34.33 and its 200-day moving average price is $31.51. The firm has a market capitalization of $15.84 billion, a price-to-earnings ratio of -90.29 and a beta of 1.06. Brookfield Infrastructure Partners L.P. has a 1 year low of $24.84 and a 1 year high of $36.50.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 4.72%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently -426.32%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. TD Securities upped their price target on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday. Cibc World Mkts raised Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group lifted their target price on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a report on Monday, September 30th. 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.20.

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.