BROOKFIELD Corp ON Cuts Stock Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

BROOKFIELD Corp ON lowered its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,527,616 shares of the utilities provider's stock after selling 158,881 shares during the quarter. Brookfield Infrastructure Partners makes up 0.9% of BROOKFIELD Corp ON's portfolio, making the stock its 19th biggest holding. BROOKFIELD Corp ON owned approximately 0.98% of Brookfield Infrastructure Partners worth $143,933,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its position in Brookfield Infrastructure Partners by 12.0% during the fourth quarter. Principal Financial Group Inc. now owns 26,675,618 shares of the utilities provider's stock valued at $848,018,000 after purchasing an additional 2,866,195 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Brookfield Infrastructure Partners in the 4th quarter valued at about $22,033,000. Guardian Capital LP purchased a new position in Brookfield Infrastructure Partners in the fourth quarter worth about $21,099,000. Intact Investment Management Inc. increased its stake in Brookfield Infrastructure Partners by 52.1% during the fourth quarter. Intact Investment Management Inc. now owns 1,745,974 shares of the utilities provider's stock worth $55,477,000 after acquiring an additional 598,290 shares during the last quarter. Finally, Addenda Capital Inc. raised its position in Brookfield Infrastructure Partners by 129.5% during the fourth quarter. Addenda Capital Inc. now owns 680,481 shares of the utilities provider's stock valued at $21,632,000 after purchasing an additional 384,000 shares during the period. Institutional investors own 57.92% of the company's stock.

Brookfield Infrastructure Partners Trading Down 0.1 %

BIP stock traded down $0.02 during mid-day trading on Friday, reaching $31.91. The company had a trading volume of 589,714 shares, compared to its average volume of 443,127. The firm has a 50 day moving average of $29.18 and a 200 day moving average of $31.78. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.08 and a quick ratio of 0.72. Brookfield Infrastructure Partners L.P. has a 12 month low of $25.72 and a 12 month high of $36.50. The company has a market capitalization of $14.81 billion, a PE ratio of 797.95 and a beta of 1.07.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last issued its earnings results on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. The business had revenue of $5.39 billion during the quarter, compared to analysts' expectations of $2 billion. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. During the same period in the prior year, the business earned $0.78 EPS. On average, equities analysts predict that Brookfield Infrastructure Partners L.P. will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a $0.43 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.72 annualized dividend and a dividend yield of 5.39%. Brookfield Infrastructure Partners's dividend payout ratio is currently -8,600.00%.

Wall Street Analyst Weigh In

BIP has been the topic of several analyst reports. StockNews.com raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research report on Saturday, February 1st. Royal Bank of Canada reiterated an "outperform" rating and set a $40.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Tuesday, March 25th. Raymond James raised their target price on shares of Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a "strong-buy" rating in a report on Thursday, January 30th. TD Securities upped their price target on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Finally, Scotiabank raised their price objective on shares of Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Infrastructure Partners presently has an average rating of "Buy" and a consensus price target of $41.67.

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.