Ascent Group LLC Takes Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Ascent Group LLC acquired a new stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,168 shares of the utilities provider’s stock, valued at approximately $216,000.

A number of other large investors have also added to or reduced their stakes in BIP. Creative Planning grew its holdings in Brookfield Infrastructure Partners by 0.6% during the 3rd quarter. Creative Planning now owns 67,445 shares of the utilities provider’s stock worth $2,363,000 after acquiring an additional 389 shares during the last quarter. Callahan Advisors LLC boosted its holdings in Brookfield Infrastructure Partners by 2.1% in the second quarter. Callahan Advisors LLC now owns 22,129 shares of the utilities provider’s stock valued at $607,000 after acquiring an additional 450 shares during the last quarter. Insight Folios Inc increased its position in shares of Brookfield Infrastructure Partners by 3.2% during the third quarter. Insight Folios Inc now owns 16,741 shares of the utilities provider’s stock worth $587,000 after buying an additional 525 shares during the period. Financial Advocates Investment Management raised its position in shares of Brookfield Infrastructure Partners by 6.0% in the 2nd quarter. Financial Advocates Investment Management now owns 10,389 shares of the utilities provider’s stock worth $285,000 after acquiring an additional 590 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its holdings in Brookfield Infrastructure Partners by 3.4% in the second quarter. EP Wealth Advisors LLC now owns 18,068 shares of the utilities provider’s stock worth $496,000 after purchasing an additional 591 shares in the last quarter. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Price Performance

NYSE BIP opened at $34.92 on Friday. The company has a market cap of $16.12 billion, a PE ratio of -91.89 and a beta of 1.05. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 1.72. The firm’s 50-day simple moving average is $34.74 and its two-hundred day simple moving average is $31.91. Brookfield Infrastructure Partners L.P. has a 52 week low of $24.84 and a 52 week high of $36.50.

Brookfield Infrastructure Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Infrastructure Partners’s payout ratio is presently -426.32%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BIP. Jefferies Financial Group upped their price objective on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a report on Monday, September 30th. TD Securities upped their target price 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. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.