Montrusco Bolton Investments Inc. Sells 1,017,310 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Montrusco Bolton Investments Inc. decreased its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 56.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 789,622 shares of the utilities provider’s stock after selling 1,017,310 shares during the quarter. Montrusco Bolton Investments Inc. owned approximately 0.17% of Brookfield Infrastructure Partners worth $27,746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. NBC Securities Inc. grew its stake in shares of Brookfield Infrastructure Partners by 1.0% during the 2nd quarter. NBC Securities Inc. now owns 40,471 shares of the utilities provider’s stock worth $1,110,000 after acquiring an additional 381 shares during the period. Creative Planning grew its stake in shares of Brookfield Infrastructure Partners by 0.6% during the 3rd quarter. Creative Planning now owns 67,445 shares of the utilities provider’s stock worth $2,363,000 after acquiring an additional 389 shares during the period. Callahan Advisors LLC boosted its stake in Brookfield Infrastructure Partners by 2.1% in the 2nd quarter. Callahan Advisors LLC now owns 22,129 shares of the utilities provider’s stock worth $607,000 after purchasing an additional 450 shares during the period. Insight Folios Inc boosted its stake in Brookfield Infrastructure Partners by 3.2% in the 3rd quarter. Insight Folios Inc now owns 16,741 shares of the utilities provider’s stock worth $587,000 after purchasing an additional 525 shares during the period. Finally, Financial Advocates Investment Management boosted its stake in Brookfield Infrastructure Partners by 6.0% in the 2nd quarter. Financial Advocates Investment Management now owns 10,389 shares of the utilities provider’s stock worth $285,000 after purchasing an additional 590 shares during the period. Institutional investors own 57.92% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. TD Securities raised their target price on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Jefferies Financial Group raised their target price on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.20.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE BIP opened at $34.75 on Friday. The stock has a market cap of $16.04 billion, a price-to-earnings ratio of -91.43 and a beta of 1.06. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72. Brookfield Infrastructure Partners L.P. has a 1-year low of $24.84 and a 1-year high of $36.50. The stock’s 50-day moving average is $34.47 and its 200 day moving average is $31.59.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.405 per share. The ex-dividend date is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.66%. Brookfield Infrastructure Partners’s dividend payout ratio is -426.32%.

About Brookfield Infrastructure Partners

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.