Alps Advisors Inc. Cuts Position in Brookfield Infrastructure Partners L.P. (BIP)
Alps Advisors Inc. reduced its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 13.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 152,283 shares of the utilities provider’s stock after selling 24,040 shares during the quarter. Alps Advisors Inc.’s holdings in Brookfield Infrastructure Partners were worth $5,847,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIP. Fort Washington Investment Advisors Inc. OH boosted its holdings in Brookfield Infrastructure Partners by 8.4% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 25,913 shares of the utilities provider’s stock worth $1,079,000 after buying an additional 2,017 shares during the last quarter. K.J. Harrison & Partners Inc boosted its holdings in Brookfield Infrastructure Partners by 62.0% during the first quarter. K.J. Harrison & Partners Inc now owns 99,304 shares of the utilities provider’s stock worth $4,120,000 after buying an additional 38,017 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Brookfield Infrastructure Partners by 48.7% during the first quarter. CIBC Asset Management Inc now owns 1,094,061 shares of the utilities provider’s stock worth $45,388,000 after buying an additional 358,212 shares during the last quarter. SG Americas Securities LLC bought a new position in Brookfield Infrastructure Partners during the first quarter worth about $1,068,000. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in Brookfield Infrastructure Partners by 13.2% during the first quarter. Kayne Anderson Capital Advisors LP now owns 128,500 shares of the utilities provider’s stock worth $5,349,000 after buying an additional 15,000 shares during the last quarter. 38.83% of the stock is currently owned by institutional investors and hedge funds.
NYSE:BIP opened at $39.72 on Friday. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $37.27 and a fifty-two week high of $46.88. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.84. The stock has a market cap of $13.99 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, August 31st will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend is Thursday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 124.50%.
A number of brokerages have issued reports on BIP. Citigroup set a $43.00 target price on Brookfield Infrastructure Partners and gave the stock a “neutral” rating in a report on Monday. ValuEngine cut Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Zacks Investment Research upgraded Brookfield Infrastructure Partners from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Wednesday, July 11th. Bank of America began coverage on Brookfield Infrastructure Partners in a report on Tuesday, July 10th. They set a “buy” rating on the stock. Finally, TD Securities cut their price objective on Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. Brookfield Infrastructure Partners presently has an average rating of “Buy” and an average price target of $46.70.
Brookfield Infrastructure Partners Profile
Brookfield Infrastructure Partners L.P. engages in utility, transport, energy, and communications infrastructure businesses. The company's Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 12,000 km of electricity transmission lines in North and South America; approximately 3.3 million electricity and natural gas connections in the United Kingdom and Colombia; and a port facility that exports metallurgical and thermal coal in Australia.
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