Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc decreased its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,911,205 shares of the utilities provider’s stock after selling 14,426 shares during the quarter. CIBC Asset Management Inc’s holdings in Brookfield Infrastructure Partners were worth $242,677,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ING Groep NV increased its holdings in shares of Brookfield Infrastructure Partners by 16.7% during the 3rd quarter. ING Groep NV now owns 219,452 shares of the utilities provider’s stock worth $7,690,000 after buying an additional 31,452 shares during the last quarter. Empower Advisory Group LLC purchased a new position in Brookfield Infrastructure Partners during the third quarter worth about $229,000. GSA Capital Partners LLP increased its position in shares of Brookfield Infrastructure Partners by 197.9% during the third quarter. GSA Capital Partners LLP now owns 71,941 shares of the utilities provider’s stock valued at $2,521,000 after acquiring an additional 47,792 shares during the last quarter. Tacita Capital Inc raised its stake in shares of Brookfield Infrastructure Partners by 0.6% in the 3rd quarter. Tacita Capital Inc now owns 147,208 shares of the utilities provider’s stock valued at $5,173,000 after acquiring an additional 837 shares during the period. Finally, Colonial River Investments LLC purchased a new stake in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at approximately $200,000. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Price Performance

Shares of Brookfield Infrastructure Partners stock opened at $34.07 on Friday. The company has a current ratio of 0.03, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58. Brookfield Infrastructure Partners L.P. has a 52 week low of $24.84 and a 52 week high of $36.50. The firm’s 50 day moving average is $34.16 and its two-hundred day moving average is $31.34.

Brookfield Infrastructure Partners Announces Dividend

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 paid 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 yield of 4.75%. Brookfield Infrastructure Partners’s dividend payout ratio is currently -426.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BIP. StockNews.com lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. TD Securities raised their target price on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group boosted their price target on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Infrastructure Partners currently has an average rating of “Moderate Buy” and an average target price 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.