Ameriprise Financial Inc. Grows Stake in Brookfield Infrastructure Partners L.P. (BIP)

Ameriprise Financial Inc. increased its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 25.9% in the 3rd quarter, Holdings Channel reports. The firm owned 22,829 shares of the utilities provider’s stock after buying an additional 4,694 shares during the period. Ameriprise Financial Inc.’s holdings in Brookfield Infrastructure Partners were worth $984,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of Brookfield Infrastructure Partners by 5.3% during the third quarter. Principal Financial Group Inc. now owns 8,751,437 shares of the utilities provider’s stock valued at $377,532,000 after purchasing an additional 437,693 shares during the last quarter. Capital World Investors raised its holdings in shares of Brookfield Infrastructure Partners by 58.9% during the second quarter. Capital World Investors now owns 5,215,000 shares of the utilities provider’s stock valued at $213,297,000 after purchasing an additional 1,932,672 shares during the last quarter. First Manhattan Co. raised its holdings in shares of Brookfield Infrastructure Partners by 0.4% during the third quarter. First Manhattan Co. now owns 1,639,485 shares of the utilities provider’s stock valued at $70,727,000 after purchasing an additional 6,517 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Brookfield Infrastructure Partners during the second quarter valued at approximately $51,505,000. Finally, CIBC Asset Management Inc raised its holdings in shares of Brookfield Infrastructure Partners by 45.9% during the third quarter. CIBC Asset Management Inc now owns 602,487 shares of the utilities provider’s stock valued at $25,919,000 after purchasing an additional 189,568 shares during the last quarter. 45.70% of the stock is owned by hedge funds and other institutional investors.

BIP has been the subject of several research reports. Zacks Investment Research raised shares of Brookfield Infrastructure Partners from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Tuesday, October 3rd. TD Securities upped their target price on shares of Brookfield Infrastructure Partners to $57.00 and gave the company a “buy” rating in a report on Monday, September 18th. Credit Suisse Group reaffirmed a “hold” rating and set a $44.00 target price on shares of Brookfield Infrastructure Partners in a report on Wednesday, December 27th. Scotiabank set a $46.75 target price on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a report on Tuesday, January 2nd. Finally, National Bank Financial upped their target price 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. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Brookfield Infrastructure Partners has an average rating of “Buy” and an average target price of $48.88.

Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) opened at $43.21 on Friday. Brookfield Infrastructure Partners L.P. has a twelve month low of $34.26 and a twelve month high of $46.88. The company has a market cap of $16,630.00, a P/E ratio of 166.19, a price-to-earnings-growth ratio of 1.07 and a beta of 1.05. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.61.

Brookfield Infrastructure Partners announced that its Board of Directors has approved a share buyback plan on Tuesday, November 7th that allows the company to buyback 13,820,000 shares. This buyback authorization allows the utilities provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Thursday, November 30th were issued a dividend of $0.435 per share. The ex-dividend date was Wednesday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 4.03%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 669.23%.

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About Brookfield Infrastructure Partners

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).

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

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