Chicago Partners Investment Group LLC increased its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 116.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 418,948 shares of the utilities provider’s stock after buying an additional 225,258 shares during the quarter. Brookfield Infrastructure Partners comprises approximately 3.1% of Chicago Partners Investment Group LLC’s holdings, making the stock its 5th largest holding. Chicago Partners Investment Group LLC owned approximately 0.15% of Brookfield Infrastructure Partners worth $18,073,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Citigroup Inc. lifted its position in Brookfield Infrastructure Partners by 1.4% in the second quarter. Citigroup Inc. now owns 7,102 shares of the utilities provider’s stock worth $290,000 after buying an additional 100 shares during the last quarter. M&T Bank Corp lifted its position in Brookfield Infrastructure Partners by 1.4% in the second quarter. M&T Bank Corp now owns 10,960 shares of the utilities provider’s stock worth $449,000 after buying an additional 150 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Brookfield Infrastructure Partners by 5.5% during the second quarter. Janney Montgomery Scott LLC now owns 6,407 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 335 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Brookfield Infrastructure Partners by 1.5% during the second quarter. PNC Financial Services Group Inc. now owns 54,531 shares of the utilities provider’s stock worth $2,231,000 after purchasing an additional 800 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of Brookfield Infrastructure Partners by 1.9% during the third quarter. D.A. Davidson & CO. now owns 61,973 shares of the utilities provider’s stock worth $2,673,000 after purchasing an additional 1,156 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Several research firms have recently weighed in on BIP. Scotiabank reiterated an “outperform” rating and set a $59.50 target price on shares of Brookfield Infrastructure Partners in a research report on Tuesday, November 28th. Zacks Investment Research downgraded Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. National Bank Financial lifted their target price on Brookfield Infrastructure Partners from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. Royal Bank of Canada lifted their target price on Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. Finally, TD Securities lifted 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. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $50.15.

Brookfield Infrastructure Partners L.P. (BIP) opened at $45.00 on Friday. The company has a market capitalization of $12,344.57, a price-to-earnings ratio of 165.37, a PEG ratio of 1.30 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.23 and a current ratio of 0.23. Brookfield Infrastructure Partners L.P. has a 52 week low of $32.04 and a 52 week high of $45.17.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.435 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 3.87%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 644.44%.

Brookfield Infrastructure Partners declared that its Board of Directors has approved a stock repurchase plan on Tuesday, November 7th that permits the company to buyback 13,820,000 outstanding shares. This buyback authorization permits the utilities provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

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Brookfield Infrastructure Partners Profile

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).

Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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