ING Groep NV Raises Stock Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

ING Groep NV boosted its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 16.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,452 shares of the utilities provider’s stock after purchasing an additional 31,452 shares during the quarter. ING Groep NV’s holdings in Brookfield Infrastructure Partners were worth $7,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of BIP. Cedar Mountain Advisors LLC bought a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter valued at about $26,000. Bank & Trust Co bought a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter worth approximately $31,000. Clear Point Advisors Inc. purchased a new stake in shares of Brookfield Infrastructure Partners in the 1st quarter valued at $33,000. Park Place Capital Corp bought a new position in shares of Brookfield Infrastructure Partners during the 2nd quarter valued at $41,000. Finally, Asset Dedication LLC purchased a new position in Brookfield Infrastructure Partners in the 2nd quarter worth $46,000. 57.92% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Partners Trading Up 0.4 %

NYSE BIP opened at $34.19 on Friday. The stock has a market cap of $15.79 billion, a P/E ratio of -89.97 and a beta of 1.06. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $24.84 and a fifty-two week high of $36.50. The stock has a 50 day simple moving average of $34.28 and a two-hundred day simple moving average of $31.41. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.76 and a current ratio of 0.03.

Brookfield Infrastructure Partners Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Infrastructure Partners’s payout ratio is -426.32%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BIP. Cibc World Mkts raised Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group raised their price target on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, TD Securities raised their target price on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.20.

Brookfield Infrastructure Partners 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.