California Public Employees Retirement System raised its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 11.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 615,707 shares of the utilities provider’s stock after purchasing an additional 62,657 shares during the period. California Public Employees Retirement System owned approximately 0.22% of Brookfield Infrastructure Partners worth $26,562,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of Nova Scotia Trust Co. lifted its holdings in shares of Brookfield Infrastructure Partners by 54.3% during the 3rd quarter. Bank of Nova Scotia Trust Co. now owns 48,533 shares of the utilities provider’s stock worth $2,093,000 after acquiring an additional 17,070 shares during the period. Hartland & Co. LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 76.8% during the 3rd quarter. Hartland & Co. LLC now owns 28,183 shares of the utilities provider’s stock worth $1,216,000 after acquiring an additional 12,243 shares during the period. Schroder Investment Management Group bought a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter worth approximately $1,256,000. JPMorgan Chase & Co. lifted its holdings in shares of Brookfield Infrastructure Partners by 52.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,015 shares of the utilities provider’s stock worth $688,000 after acquiring an additional 5,500 shares during the period. Finally, FNY Partners Fund LP bought a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter worth approximately $258,000. 45.70% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on the stock. BMO Capital Markets downgraded shares of Brookfield Infrastructure Partners from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Tuesday, August 22nd. Credit Suisse Group downgraded shares of Brookfield Infrastructure Partners from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Tuesday, August 22nd. Scotiabank reaffirmed an “outperform” rating and set a $59.50 price target on shares of Brookfield Infrastructure Partners in a report on Tuesday, November 28th. TD Securities upped their price target on shares of Brookfield Infrastructure Partners to $57.00 and gave the stock a “buy” rating in a report on Monday, September 18th. Finally, National Bank Financial upped their price target on shares of Brookfield Infrastructure Partners from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Brookfield Infrastructure Partners presently has a consensus rating of “Buy” and an average target price of $50.15.

Brookfield Infrastructure Partners L.P. (NYSE BIP) opened at $44.17 on Tuesday. The stock has a market cap of $12,269.93, a P/E ratio of 164.37, a P/E/G ratio of 1.29 and a beta of 1.05. Brookfield Infrastructure Partners L.P. has a 12-month low of $33.01 and a 12-month high of $45.23. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be given a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Wednesday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio is 644.44%.

Brookfield Infrastructure Partners declared that its board has initiated a share buyback 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. Stock buyback programs are often an indication that the company’s board of directors believes its shares are 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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Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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