Brookfield Infrastructure Partners LP (NYSE:BIP) Shares Sold by Summerhill Capital Management lnc.

Summerhill Capital Management lnc. cut its stake in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 26.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 235,105 shares of the utilities provider's stock after selling 83,057 shares during the quarter. Brookfield Infrastructure Partners comprises approximately 9.4% of Summerhill Capital Management lnc.'s holdings, making the stock its 4th largest holding. Summerhill Capital Management lnc. owned approximately 0.05% of Brookfield Infrastructure Partners worth $7,004,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its holdings in Brookfield Infrastructure Partners by 9.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 45,554 shares of the utilities provider's stock valued at $1,357,000 after acquiring an additional 3,897 shares during the period. Canton Hathaway LLC purchased a new stake in Brookfield Infrastructure Partners in the first quarter worth $487,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Brookfield Infrastructure Partners by 28.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,102 shares of the utilities provider's stock worth $629,000 after purchasing an additional 4,667 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the first quarter valued at $320,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Brookfield Infrastructure Partners by 565.6% in the first quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider's stock worth $68,000 after purchasing an additional 1,906 shares during the last quarter. Institutional investors own 57.92% of the company's stock.

Brookfield Infrastructure Partners Stock Down 0.8%

Shares of NYSE BIP traded down $0.26 during midday trading on Friday, reaching $33.60. 464,501 shares of the company's stock traded hands, compared to its average volume of 442,707. Brookfield Infrastructure Partners LP has a one year low of $25.72 and a one year high of $36.50. The stock's 50 day simple moving average is $32.11 and its 200-day simple moving average is $31.39. The company has a market cap of $15.61 billion, a price-to-earnings ratio of -1,679.26 and a beta of 1.09. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 1.64.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. Brookfield Infrastructure Partners had a net margin of 1.41% and a return on equity of 1.04%. The firm had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. On average, analysts predict that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Infrastructure Partners's dividend payout ratio is currently -8,600.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BIP shares. Citigroup decreased their price objective on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $40.00 target price on shares of Brookfield Infrastructure Partners in a research report on Tuesday, March 25th. 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 data from MarketBeat, the stock has an average rating of "Buy" and an average price target 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.