Nexus Investment Management ULC Sells 35,487 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Nexus Investment Management ULC decreased its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,149,797 shares of the utilities provider’s stock after selling 35,487 shares during the period. Brookfield Infrastructure Partners makes up about 3.6% of Nexus Investment Management ULC’s investment portfolio, making the stock its 9th largest holding. Nexus Investment Management ULC owned about 0.25% of Brookfield Infrastructure Partners worth $36,456,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Brookfield Infrastructure Partners during the third quarter valued at approximately $410,650,000. Intact Investment Management Inc. bought a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter worth approximately $40,286,000. Pathway Financial Advisers LLC boosted its holdings in shares of Brookfield Infrastructure Partners by 1,616.3% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,079,521 shares of the utilities provider’s stock valued at $37,826,000 after buying an additional 1,016,623 shares during the last quarter. Select Equity Group L.P. grew its stake in shares of Brookfield Infrastructure Partners by 29.6% in the second quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock valued at $115,326,000 after buying an additional 960,120 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. increased its holdings in Brookfield Infrastructure Partners by 101.0% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,587,548 shares of the utilities provider’s stock worth $55,783,000 after buying an additional 797,649 shares during the last quarter. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Stock Up 1.0 %

Shares of BIP opened at $31.23 on Friday. The firm’s 50-day simple moving average is $33.15 and its 200 day simple moving average is $32.73. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.77. The firm has a market cap of $14.49 billion, a P/E ratio of -82.17 and a beta of 1.07. Brookfield Infrastructure Partners L.P. has a 52 week low of $24.84 and a 52 week high of $36.50.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 5.19%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently -426.32%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BIP shares. TD Securities boosted their price objective on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group boosted their price target on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Three 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, Brookfield Infrastructure Partners currently has an average rating of “Moderate Buy” and a consensus 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.