Empower Advisory Group LLC Purchases New Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Empower Advisory Group LLC acquired a new stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 6,540 shares of the utilities provider’s stock, valued at approximately $229,000.

Several other institutional investors have also modified their holdings of BIP. Avantax Advisory Services Inc. bought a new stake in shares of Brookfield Infrastructure Partners in the 1st quarter valued at approximately $247,000. Kingsview Wealth Management LLC raised its holdings in shares of Brookfield Infrastructure Partners by 12.2% in the first quarter. Kingsview Wealth Management LLC now owns 7,294 shares of the utilities provider’s stock worth $228,000 after buying an additional 795 shares during the period. Bessemer Group Inc. raised its holdings in shares of Brookfield Infrastructure Partners by 2.5% in the first quarter. Bessemer Group Inc. now owns 36,229 shares of the utilities provider’s stock worth $1,131,000 after buying an additional 874 shares during the period. Lake Street Advisors Group LLC raised its holdings in shares of Brookfield Infrastructure Partners by 2.4% in the first quarter. Lake Street Advisors Group LLC now owns 1,234,621 shares of the utilities provider’s stock worth $38,533,000 after buying an additional 29,498 shares during the period. Finally, Evermay Wealth Management LLC raised its holdings in shares of Brookfield Infrastructure Partners by 814.3% in the first quarter. Evermay Wealth Management LLC now owns 3,200 shares of the utilities provider’s stock worth $100,000 after buying an additional 2,850 shares during the period. 57.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BIP has been the topic of several recent analyst reports. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday. TD Securities increased their price target on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group raised their price objective on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.20.

Brookfield Infrastructure Partners Trading Up 0.4 %

Shares of NYSE:BIP opened at $34.19 on Friday. Brookfield Infrastructure Partners L.P. has a 12-month low of $24.84 and a 12-month high of $36.50. The business’s fifty day simple moving average is $34.28 and its 200-day simple moving average is $31.41. The company has a market capitalization of $15.79 billion, a PE ratio of -89.97 and a beta of 1.06. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.405 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.74%. Brookfield Infrastructure Partners’s dividend payout ratio is presently -426.32%.

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.