Raymond James Trust N.A. Decreases Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Raymond James Trust N.A. cut its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 2.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 11,883 shares of the utilities provider’s stock after selling 296 shares during the period. Raymond James Trust N.A.’s holdings in Brookfield Infrastructure Partners were worth $416,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BIP. Cedar Mountain Advisors LLC purchased a new position in shares of Brookfield Infrastructure Partners in the third quarter valued at $26,000. Bank & Trust Co bought a new position in Brookfield Infrastructure Partners during the second quarter valued at $31,000. Park Place Capital Corp purchased a new position in shares of Brookfield Infrastructure Partners in the 2nd quarter worth $41,000. Asset Dedication LLC bought a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter worth about $46,000. Finally, Eastern Bank purchased a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter valued at about $158,000. Institutional investors own 57.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. TD Securities lifted their price objective 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, Jefferies Financial Group increased their target price on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.20.

Brookfield Infrastructure Partners Stock Performance

Shares of Brookfield Infrastructure Partners stock opened at $34.83 on Wednesday. Brookfield Infrastructure Partners L.P. has a 52 week low of $24.84 and a 52 week high of $36.50. The company has a market capitalization of $16.08 billion, a PE ratio of -91.66 and a beta of 1.06. The stock’s fifty day moving average is $34.53 and its two-hundred day moving average is $31.67. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 1.72.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 4.65%. The ex-dividend date is Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio is presently -426.32%.

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.