Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 16.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,842 shares of the utilities provider's stock after selling 58,492 shares during the quarter. Bank of America Corp DE owned about 0.06% of Brookfield Infrastructure Partners worth $9,278,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BIP. Promus Capital LLC purchased a new position in Brookfield Infrastructure Partners during the 4th quarter worth $26,000. Compass Planning Associates Inc purchased a new position in Brookfield Infrastructure Partners during the 4th quarter worth $28,000. Larson Financial Group LLC purchased a new position in Brookfield Infrastructure Partners during the 4th quarter worth $30,000. Wingate Wealth Advisors Inc. purchased a new position in Brookfield Infrastructure Partners during the 4th quarter worth $32,000. Finally, Stonebridge Financial Group LLC purchased a new position in Brookfield Infrastructure Partners during the 4th quarter worth $44,000. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. 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 report on Thursday, February 13th. Royal Bank of Canada reissued an "outperform" rating and set a $40.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Tuesday, March 25th. Wall Street Zen raised shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a report on Saturday, February 1st. Citigroup lowered their target price on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Raymond James lifted their target price on shares of Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the company a "strong-buy" rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Infrastructure Partners has a consensus rating of "Buy" and a consensus target price of $41.67.

Brookfield Infrastructure Partners Price Performance

BIP stock traded down $0.20 during trading on Thursday, reaching $33.10. 305,596 shares of the company were exchanged, compared to its average volume of 444,144. The company has a market cap of $15.37 billion, a P/E ratio of 827.58 and a beta of 1.07. Brookfield Infrastructure Partners L.P. has a 52-week low of $25.72 and a 52-week high of $36.50. The stock's 50 day moving average price is $30.27 and its 200 day moving average price is $31.60. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.08.

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

Brookfield Infrastructure Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date is Friday, May 30th. Brookfield Infrastructure Partners's dividend payout ratio is currently -8,600.00%.

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.