Alps Advisors Inc. Has $6.64 Million Stake in Brookfield Infrastructure Partners LP (BIP)

Alps Advisors Inc. reduced its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 66.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,936 shares of the utilities provider’s stock after selling 301,158 shares during the quarter. Alps Advisors Inc.’s holdings in Brookfield Infrastructure Partners were worth $6,642,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bollard Group LLC grew its holdings in shares of Brookfield Infrastructure Partners by 1.0% during the second quarter. Bollard Group LLC now owns 3,681 shares of the utilities provider’s stock valued at $151,000 after buying an additional 38 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its holdings in shares of Brookfield Infrastructure Partners by 0.5% during the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 12,400 shares of the utilities provider’s stock valued at $507,000 after buying an additional 65 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Brookfield Infrastructure Partners by 1.4% during the second quarter. Citigroup Inc. now owns 7,102 shares of the utilities provider’s stock valued at $290,000 after buying an additional 100 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Brookfield Infrastructure Partners by 1.4% during the second quarter. M&T Bank Corp now owns 10,960 shares of the utilities provider’s stock valued at $449,000 after buying an additional 150 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings 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 valued at $262,000 after buying an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 33.72% of the company’s stock.

A number of brokerages have recently issued reports on BIP. Zacks Investment Research cut shares of Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a report on Tuesday. Scotiabank lifted their price objective on shares of Brookfield Infrastructure Partners from $43.50 to $46.75 and gave the company an “outperform” rating in a report on Monday, November 6th. National Bank Financial lifted their price objective on shares of Brookfield Infrastructure Partners from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, November 6th. Royal Bank Of Canada lifted their price objective on shares of Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, November 6th. Finally, TD Securities lifted their price objective on shares of Brookfield Infrastructure Partners to $57.00 and gave the company a “buy” rating in a report on Monday, September 18th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Brookfield Infrastructure Partners presently has an average rating of “Buy” and a consensus target price of $48.88.

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Brookfield Infrastructure Partners LP (NYSE BIP) traded up $0.02 during trading on Friday, reaching $43.47. 148,311 shares of the company traded hands, compared to its average volume of 255,859. Brookfield Infrastructure Partners LP has a 1-year low of $30.76 and a 1-year high of $44.91. The stock has a market capitalization of $12,012.80, a PE ratio of 160.93, a PEG ratio of 1.26 and a beta of 1.06. The company has a current ratio of 0.23, a quick ratio of 0.07 and a debt-to-equity ratio of 0.61.

Brookfield Infrastructure Partners declared that its board has authorized a stock repurchase program on Tuesday, November 7th that permits the company to buyback 13,820,000 outstanding shares. This buyback authorization permits the utilities provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be issued a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Wednesday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 644.44%.

Brookfield Infrastructure Partners Company 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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