Brookfield Infrastructure Partners LP $BIP Shares Newly Acquired by Pathway Financial Advisers LLC

Key Points

• Pathway Financial Advisers acquired 53,997 Brookfield Infrastructure Partners shares in the third quarter, valued at approximately $1.92 million. Institutional investors collectively own 57.92% of the company’s stock.
• BIP shares opened at $38.17, with a 12-month trading range of $33.21 to $44.03 and a market capitalization of $17.47 billion.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $45.75; ratings include eight Buys and two Holds.

Pathway Financial Advisers LLC acquired a new stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 53,997 shares of the utilities provider's stock, valued at approximately $1,920,000.

Several other hedge funds have also made changes to their positions in BIP. Ninepoint Partners LP bought a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter worth about $2,452,000. Gold Investment Management Ltd. bought a new position in Brookfield Infrastructure Partners during the 3rd quarter valued at about $6,435,000. The Manufacturers Life Insurance Company lifted its holdings in Brookfield Infrastructure Partners by 55.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,761,387 shares of the utilities provider's stock valued at $99,572,000 after purchasing an additional 979,842 shares during the last quarter. Cardinal Point Capital Management ULC bought a new position in Brookfield Infrastructure Partners during the 3rd quarter valued at about $1,075,000. Finally, Oak Grove Capital LLC acquired a new position in Brookfield Infrastructure Partners in the third quarter valued at about $2,936,000. Institutional investors own 57.92% of the company's stock.

Brookfield Infrastructure Partners Stock Up 1.9%

Shares of BIP stock opened at $38.17 on Thursday. The firm has a fifty day moving average of $36.66 and a 200-day moving average of $37.51. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 1.83. Brookfield Infrastructure Partners LP has a 12-month low of $33.21 and a 12-month high of $44.03. The company has a market capitalization of $17.47 billion, a price-to-earnings ratio of 61.56 and a beta of 1.06.

Analysts Set New Price Targets

Several brokerages have weighed in on BIP. Citigroup reaffirmed a "neutral" rating and set a $41.00 price objective (up from $37.00) on shares of Brookfield Infrastructure Partners in a research note on Monday, August 3rd. BMO Capital Markets lifted their target price on shares of Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Wall Street Zen downgraded Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Brookfield Infrastructure Partners in a report on Tuesday. Finally, Morgan Stanley dropped their price target on Brookfield Infrastructure Partners from $50.00 to $48.00 and set an "overweight" rating for the company in a report on Tuesday, October 13th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $45.75.

Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. NYSE: BIP is a global owner and operator of essential infrastructure assets. The partnership invests in and manages businesses that provide critical services to communities and industries, with a focus on long-term, durable cash flows and assets that are difficult to replicate.

Its operations span several infrastructure sectors, including utilities, transportation, midstream energy, and data infrastructure. The portfolio includes regulated and contracted businesses such as electricity and natural gas transmission and distribution systems, rail and port operations, natural gas pipelines and processing facilities, fiber-optic networks, data centers, and other communications infrastructure.

Brookfield Infrastructure serves customers across North America, South America, Europe, and the Asia-Pacific region.

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