Brookfield Infrastructure Partners L.P. (NYSE:BIP) Stock Position Reduced by Callahan Advisors LLC

Callahan Advisors LLC lessened its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 4.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 21,113 shares of the utilities provider’s stock after selling 1,016 shares during the quarter. Callahan Advisors LLC’s holdings in Brookfield Infrastructure Partners were worth $740,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Cedar Mountain Advisors LLC bought a new stake in shares of Brookfield Infrastructure Partners in the 3rd quarter worth approximately $26,000. Clear Point Advisors Inc. bought a new stake in shares of Brookfield Infrastructure Partners in the 1st quarter worth approximately $33,000. Bank & Trust Co bought a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter worth approximately $31,000. Park Place Capital Corp bought a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter worth approximately $41,000. Finally, Asset Dedication LLC bought a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter worth approximately $46,000. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE BIP opened at $34.47 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $15.99 billion, a price-to-earnings ratio of -202.74 and a beta of 1.06. The stock’s fifty day simple moving average is $33.86 and its 200 day simple moving average is $31.07. Brookfield Infrastructure Partners L.P. has a 52-week low of $24.84 and a 52-week high of $36.50.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BIP. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Sunday, September 15th. Jefferies Financial Group raised their target price on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. 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 stock. Based on data from MarketBeat, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and an average price target of $39.40.

Brookfield Infrastructure Partners 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.