Cannell Peter B & Co. Inc. reduced its position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,944 shares of the utilities provider’s stock after selling 7,062 shares during the period. Cannell Peter B & Co. Inc.’s holdings in Brookfield Infrastructure Partners were worth $7,073,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BIP. Arcadia Investment Management Corp MI bought a new stake in Brookfield Infrastructure Partners in the third quarter valued at approximately $109,000. Tower Research Capital LLC TRC lifted its stake in Brookfield Infrastructure Partners by 2,000.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,100 shares of the utilities provider’s stock valued at $111,000 after buying an additional 2,000 shares during the period. Sheaff Brock Investment Advisors LLC acquired a new position in Brookfield Infrastructure Partners in the second quarter valued at approximately $203,000. US Bancorp DE lifted its stake in Brookfield Infrastructure Partners by 61.1% in the second quarter. US Bancorp DE now owns 5,029 shares of the utilities provider’s stock valued at $206,000 after buying an additional 1,907 shares during the period. Finally, Hudock Capital Group LLC lifted its stake in Brookfield Infrastructure Partners by 37.1% in the second quarter. Hudock Capital Group LLC now owns 5,109 shares of the utilities provider’s stock valued at $209,000 after buying an additional 1,382 shares during the period. Institutional investors and hedge funds own 43.32% of the company’s stock.

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Brookfield Infrastructure Partners LP (NYSE:BIP) traded up $0.10 during midday trading on Wednesday, reaching $43.27. The company had a trading volume of 75,638 shares, compared to its average volume of 379,148. The stock has a market cap of $16,640.00, a price-to-earnings ratio of 160.30, a P/E/G ratio of 1.26 and a beta of 1.06. Brookfield Infrastructure Partners LP has a twelve month low of $31.03 and a twelve month high of $44.91. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.23 and a quick ratio of 0.23.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be given a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Wednesday, November 29th. Brookfield Infrastructure Partners’s payout ratio is currently 669.23%.

Brookfield Infrastructure Partners announced that its board has approved a share repurchase plan on Tuesday, November 7th that authorizes the company to repurchase 13,820,000 shares. This repurchase authorization authorizes the utilities provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Several equities analysts have issued reports on the company. Zacks Investment Research lowered Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. TD Securities upped their target price on Brookfield Infrastructure Partners to $57.00 and gave the stock a “buy” rating in a research report on Monday, September 18th. Scotiabank reaffirmed an “outperform” rating and set a $53.00 target price on shares of Brookfield Infrastructure Partners in a research report on Monday, September 18th. Credit Suisse Group initiated coverage on Brookfield Infrastructure Partners in a research report on Monday, September 18th. They set a “neutral” rating and a $44.00 target price on the stock. Finally, Royal Bank Of Canada upped their target price on Brookfield Infrastructure Partners from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $48.88.

About Brookfield Infrastructure Partners

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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