Everett Harris & Co. CA Sells 10,018 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Everett Harris & Co. CA cut its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 44.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,459 shares of the utilities provider’s stock after selling 10,018 shares during the period. Everett Harris & Co. CA’s holdings in Brookfield Infrastructure Partners were worth $392,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BIP. Fairfield Bush & CO. purchased a new stake in shares of Brookfield Infrastructure Partners during the first quarter valued at $81,000. JPMorgan Chase & Co. lifted its position in shares of Brookfield Infrastructure Partners by 58.6% during the 1st quarter. JPMorgan Chase & Co. now owns 6,090 shares of the utilities provider’s stock valued at $403,000 after buying an additional 2,250 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Brookfield Infrastructure Partners by 9.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,645 shares of the utilities provider’s stock valued at $904,000 after buying an additional 1,230 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Brookfield Infrastructure Partners by 8.3% during the 1st quarter. Blair William & Co. IL now owns 29,899 shares of the utilities provider’s stock valued at $1,980,000 after buying an additional 2,287 shares in the last quarter. Finally, Equitable Holdings Inc. purchased a new position in shares of Brookfield Infrastructure Partners during the 1st quarter valued at about $201,000. 57.92% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Trading Up 4.1 %

BIP traded up $1.23 during trading hours on Thursday, reaching $31.21. 1,053,136 shares of the company’s stock traded hands, compared to its average volume of 511,303. Brookfield Infrastructure Partners L.P. has a 52-week low of $21.03 and a 52-week high of $37.32. The firm has a market capitalization of $14.40 billion, a PE ratio of 214.02 and a beta of 0.95. The firm has a 50-day moving average price of $30.32 and a 200 day moving average price of $28.98. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 1.20.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Thursday, February 1st. The utilities provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.99). The firm had revenue of $4.97 billion during the quarter. Brookfield Infrastructure Partners had a return on equity of 0.79% and a net margin of 1.34%. As a group, sell-side analysts predict that Brookfield Infrastructure Partners L.P. will post 3.32 EPS for the current fiscal year.

Brookfield Infrastructure Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, February 29th will be given a dividend of $0.405 per share. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.38. This represents a $1.62 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend is Wednesday, February 28th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 1,157.23%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on Brookfield Infrastructure Partners from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, January 10th. Jefferies Financial Group began coverage on Brookfield Infrastructure Partners in a research note on Tuesday, February 27th. They set a “buy” rating on the stock. National Bankshares downgraded Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 price objective on the stock. in a research note on Tuesday, January 30th. Raymond James lifted their price objective on Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 2nd. Finally, TD Securities reduced their price objective on Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and an average target price of $39.11.

About Brookfield Infrastructure Partners

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 60,000 kilometers (km) of operational electricity transmission and distribution lines; 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.8 million electricity and natural gas connections; and 540,000 long-term contracted sub-metering services.