Empower Advisory Group LLC Acquires New Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Empower Advisory Group LLC acquired a new stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,540 shares of the utilities provider’s stock, valued at approximately $229,000.

Other hedge funds also recently bought and sold shares of the company. Cedar Mountain Advisors LLC purchased a new stake in Brookfield Infrastructure Partners in the third quarter worth about $26,000. Bank & Trust Co purchased a new stake in Brookfield Infrastructure Partners in the second quarter worth about $31,000. Clear Point Advisors Inc. purchased a new stake in Brookfield Infrastructure Partners in the first quarter worth about $33,000. Park Place Capital Corp purchased a new stake in Brookfield Infrastructure Partners in the second quarter worth about $41,000. Finally, Asset Dedication LLC purchased a new stake in Brookfield Infrastructure Partners in the second quarter worth about $46,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. TD Securities upped their price target on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group increased their target price 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, Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.20.

Brookfield Infrastructure Partners Price Performance

Shares of Brookfield Infrastructure Partners stock opened at $34.19 on Friday. The stock has a 50 day moving average of $34.28 and a 200 day moving average of $31.41. Brookfield Infrastructure Partners L.P. has a 12 month low of $24.84 and a 12 month high of $36.50. The firm has a market cap of $15.79 billion, a PE ratio of -89.97 and a beta of 1.06. The company has a current ratio of 0.03, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58.

Brookfield Infrastructure Partners Announces Dividend

The company 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 dividend of $0.405 per share. 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 presently -426.32%.

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.