Bank of America Corp DE Sells 58,492 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Bank of America Corp DE lowered its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 16.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 0.06% of Brookfield Infrastructure Partners worth $9,278,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of Brookfield Infrastructure Partners by 24.0% in the third quarter. JPMorgan Chase & Co. now owns 22,130 shares of the utilities provider's stock valued at $775,000 after purchasing an additional 4,281 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Brookfield Infrastructure Partners by 48.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,365 shares of the utilities provider's stock worth $711,000 after acquiring an additional 7,318 shares in the last quarter. Montrusco Bolton Investments Inc. grew its position in shares of Brookfield Infrastructure Partners by 5.0% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 829,187 shares of the utilities provider's stock valued at $26,337,000 after purchasing an additional 39,565 shares in the last quarter. Custom Index Systems LLC bought a new stake in shares of Brookfield Infrastructure Partners during the 4th quarter valued at $234,000. Finally, Triasima Portfolio Management inc. lifted its holdings in Brookfield Infrastructure Partners by 1.1% during the 4th quarter. Triasima Portfolio Management inc. now owns 33,330 shares of the utilities provider's stock worth $1,059,000 after purchasing an additional 350 shares in the last quarter. 57.92% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Stock Performance

BIP traded up $0.17 during trading on Thursday, hitting $33.46. The company's stock had a trading volume of 81,037 shares, compared to its average volume of 443,381. The business's 50 day simple moving average is $30.20 and its 200-day simple moving average is $31.61. The firm has a market cap of $15.54 billion, a PE ratio of 836.68 and a beta of 1.07. Brookfield Infrastructure Partners L.P. has a one year low of $25.72 and a one year high of $36.50. The company has a quick ratio of 0.72, a current ratio of 0.08 and a debt-to-equity ratio of 1.72.

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 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. Brookfield Infrastructure Partners had a net margin of 1.64% and a return on equity of 1.17%. The firm had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period last year, the firm earned $0.78 EPS. As a group, sell-side analysts predict that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.72 dividend on an annualized basis and a yield of 5.14%. Brookfield Infrastructure Partners's dividend payout ratio is presently -8,600.00%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BIP. Citigroup decreased their price target 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. Scotiabank raised their price target on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Royal Bank of Canada reiterated an "outperform" rating and set a $40.00 price target on shares of Brookfield Infrastructure Partners in a research report on Tuesday, March 25th. Wall Street Zen upgraded shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research report on Saturday, February 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 research report on Thursday, January 30th. Two equities research 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 MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $41.67.

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.