Brookfield Infrastructure Partners L.P. (NYSE:BIP – Get Free Report) (TSE:BIP.UN) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,660,000 shares, a drop of 6.7% from the September 30th total of 1,780,000 shares. Based on an average trading volume of 337,000 shares, the days-to-cover ratio is presently 4.9 days.
Hedge Funds Weigh In On Brookfield Infrastructure Partners
A number of hedge funds have recently modified their holdings of the business. Intact Investment Management Inc. acquired a new position in shares of Brookfield Infrastructure Partners during the third quarter worth $40,286,000. Pathway Financial Advisers LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 1,616.3% during the third quarter. Pathway Financial Advisers LLC now owns 1,079,521 shares of the utilities provider’s stock worth $37,826,000 after purchasing an additional 1,016,623 shares during the period. Insight Folios Inc lifted its holdings in shares of Brookfield Infrastructure Partners by 3.2% during the third 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. Boston Trust Walden Corp acquired a new position in shares of Brookfield Infrastructure Partners during the third quarter worth $212,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 7.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,110 shares of the utilities provider’s stock worth $600,000 after purchasing an additional 1,173 shares during the period. Institutional investors and hedge funds own 57.92% of the company’s stock.
Brookfield Infrastructure Partners Stock Performance
NYSE BIP opened at $34.92 on Thursday. The firm’s fifty day moving average price is $33.68 and its two-hundred day moving average price is $30.77. The stock has a market cap of $16.20 billion, a PE ratio of 112.63 and a beta of 1.06. Brookfield Infrastructure Partners has a fifty-two week low of $22.21 and a fifty-two week high of $36.50. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.76 and a current ratio of 0.81.
Analyst Ratings Changes
A number of brokerages recently issued reports on BIP. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Sunday, September 15th. Jefferies Financial Group lifted their price objective 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. Finally, Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and an average target price of $39.50.
Read Our Latest Research Report on BIP
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.
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