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

Bank of America Corp DE cut its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 291,842 shares of the utilities provider's stock after selling 58,492 shares during the period. 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 and Exchange Commission.

A number of other large investors also recently modified their holdings of BIP. Cidel Asset Management Inc. bought a new position in Brookfield Infrastructure Partners in the fourth quarter valued at about $272,000. Allworth Financial LP lifted its position in Brookfield Infrastructure Partners by 53.8% during the 4th quarter. Allworth Financial LP now owns 6,861 shares of the utilities provider's stock valued at $222,000 after purchasing an additional 2,399 shares during the period. Montrusco Bolton Investments Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 5.0% in the 4th 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 during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Brookfield Infrastructure Partners by 24.0% in the 3rd 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 last quarter. Finally, Northern Trust Corp grew its position in shares of Brookfield Infrastructure Partners by 15.0% during the 4th quarter. Northern Trust Corp now owns 374,347 shares of the utilities provider's stock worth $11,900,000 after buying an additional 48,787 shares during the period. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Trading Up 1.9%

Shares of NYSE BIP traded up $0.62 during midday trading on Tuesday, reaching $33.19. 567,920 shares of the stock were exchanged, compared to its average volume of 444,973. 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 $15.42 billion, a price-to-earnings ratio of 830.03 and a beta of 1.07. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.08 and a quick ratio of 0.72. The business has a 50-day simple moving average of $30.02 and a two-hundred day simple moving average of $31.59.

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

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 5.18%. The ex-dividend date is Friday, May 30th. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is presently -8,600.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BIP. Raymond James increased their price objective 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. Wall Street Zen raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday, February 1st. Royal Bank of Canada restated an "outperform" rating and issued a $40.00 price target on shares of Brookfield Infrastructure Partners in a research report on Tuesday, March 25th. TD Securities lifted their price objective on Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, Citigroup dropped their price objective on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price 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.