Addenda Capital Inc. Sells 59,660 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Addenda Capital Inc. cut its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 8.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 620,821 shares of the utilities provider's stock after selling 59,660 shares during the period. Addenda Capital Inc. owned 0.13% of Brookfield Infrastructure Partners worth $18,494,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Triasima Portfolio Management inc. boosted its holdings in Brookfield Infrastructure Partners by 1.1% during the fourth quarter. Triasima Portfolio Management inc. now owns 33,330 shares of the utilities provider's stock worth $1,059,000 after buying an additional 350 shares in the last quarter. MGO One Seven LLC grew its position in shares of Brookfield Infrastructure Partners by 5.5% in the fourth quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider's stock valued at $226,000 after purchasing an additional 372 shares during the period. Avantax Advisory Services Inc. grew its position in shares of Brookfield Infrastructure Partners by 8.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,096 shares of the utilities provider's stock valued at $257,000 after purchasing an additional 602 shares during the period. Belpointe Asset Management LLC grew its position in shares of Brookfield Infrastructure Partners by 6.1% in the fourth quarter. Belpointe Asset Management LLC now owns 11,231 shares of the utilities provider's stock valued at $361,000 after purchasing an additional 647 shares during the period. Finally, Kingsview Wealth Management LLC lifted its stake in shares of Brookfield Infrastructure Partners by 11.0% in the fourth quarter. Kingsview Wealth Management LLC now owns 7,119 shares of the utilities provider's stock worth $226,000 after buying an additional 707 shares in the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on BIP. TD Securities lifted their price target on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Scotiabank upped their target price on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Citigroup dropped their price objective on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $40.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Tuesday, March 25th. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $41.67.

Brookfield Infrastructure Partners Stock Up 0.5%

NYSE:BIP traded up $0.17 during trading hours on Tuesday, hitting $33.31. The stock had a trading volume of 313,194 shares, compared to its average volume of 443,927. The company has a current ratio of 0.08, 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 $25.72 and a 1-year high of $36.50. The business has a 50 day simple moving average of $30.45 and a two-hundred day simple moving average of $31.56. The company has a market cap of $15.47 billion, a PE ratio of 832.96 and a beta of 1.07.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm had revenue of $5.39 billion for 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 last year, the business posted $0.78 earnings per share. Analysts predict that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Friday, May 30th. Brookfield Infrastructure Partners's dividend payout ratio is presently -8,600.00%.

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.