Peapack Gladstone Financial Corp Cuts Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Peapack Gladstone Financial Corp cut its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 4.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 45,481 shares of the utilities provider’s stock after selling 1,994 shares during the period. Peapack Gladstone Financial Corp’s holdings in Brookfield Infrastructure Partners were worth $1,594,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at $101,000. Toronto Dominion Bank raised its position in shares of Brookfield Infrastructure Partners by 24.6% in the 3rd quarter. Toronto Dominion Bank now owns 4,003,231 shares of the utilities provider’s stock worth $140,273,000 after buying an additional 790,078 shares during the period. Empire Financial Management Company LLC raised its position in shares of Brookfield Infrastructure Partners by 46.8% in the 3rd quarter. Empire Financial Management Company LLC now owns 34,719 shares of the utilities provider’s stock worth $1,217,000 after buying an additional 11,069 shares during the period. Dunhill Financial LLC acquired a new position in Brookfield Infrastructure Partners in the third quarter valued at $30,000. Finally, National Bank of Canada FI grew its position in Brookfield Infrastructure Partners by 5.4% during the third quarter. National Bank of Canada FI now owns 2,550,270 shares of the utilities provider’s stock valued at $89,362,000 after acquiring an additional 130,371 shares during the period. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Stock Down 2.0 %

Shares of NYSE:BIP opened at $32.72 on Monday. The company has a market capitalization of $15.11 billion, a price-to-earnings ratio of -86.11 and a beta of 1.05. The company has a 50 day moving average of $34.64 and a two-hundred day moving average of $32.10. Brookfield Infrastructure Partners L.P. has a 52-week low of $24.84 and a 52-week high of $36.50. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 1.72.

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 annualized dividend and a yield of 4.95%. The ex-dividend date is Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is -426.32%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Jefferies Financial Group lifted their price target on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, TD Securities increased their price objective on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.20.

Brookfield Infrastructure Partners Company 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.