Brookfield Infrastructure Partners LP (NYSE:BIP) Stake Reduced by Summerhill Capital Management lnc.

Summerhill Capital Management lnc. trimmed its stake in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 26.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 235,105 shares of the utilities provider's stock after selling 83,057 shares during the period. Brookfield Infrastructure Partners comprises 9.4% of Summerhill Capital Management lnc.'s holdings, making the stock its 4th biggest holding. Summerhill Capital Management lnc. owned about 0.05% of Brookfield Infrastructure Partners worth $7,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in Brookfield Infrastructure Partners during the 4th quarter worth about $22,033,000. Guardian Capital LP purchased a new stake in shares of Brookfield Infrastructure Partners in the 4th quarter worth approximately $21,099,000. Mackenzie Financial Corp boosted its stake in shares of Brookfield Infrastructure Partners by 8.0% during the fourth quarter. Mackenzie Financial Corp now owns 8,784,509 shares of the utilities provider's stock valued at $278,858,000 after purchasing an additional 650,892 shares in the last quarter. Intact Investment Management Inc. boosted its stake in shares of 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 valued at $55,477,000 after purchasing an additional 598,290 shares in the last quarter. Finally, Mufg Securities Canada LTD. increased its holdings in Brookfield Infrastructure Partners by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 704,968 shares of the utilities provider's stock valued at $22,388,000 after buying an additional 295,232 shares during the period. 57.92% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Partners Stock Up 2.4%

Shares of BIP traded up $0.79 during midday trading on Thursday, hitting $33.87. 443,949 shares of the company's stock traded hands, compared to its average volume of 441,875. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $15.73 billion, a price-to-earnings ratio of -1,692.40 and a beta of 1.09. Brookfield Infrastructure Partners LP has a 1 year low of $25.72 and a 1 year high of $36.50. The firm's fifty day moving average is $32.00 and its 200-day moving average is $31.40.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last announced its earnings results on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $5.39 billion for the quarter, compared to analyst estimates of $2 billion. Brookfield Infrastructure Partners had a return on equity of 1.04% and a net margin of 1.41%. During the same period in the prior year, the company posted $0.78 EPS. As a group, sell-side analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Announces Dividend

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 given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Infrastructure Partners's payout ratio is currently -8,600.00%.

Analysts Set New Price Targets

Several brokerages have issued reports on BIP. Citigroup dropped their target price on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada restated an "outperform" rating and set a $40.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Tuesday, March 25th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Brookfield Infrastructure Partners presently 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.