Everett Harris & Co. CA Sells 3,292 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Everett Harris & Co. CA cut its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 26.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,167 shares of the utilities provider’s stock after selling 3,292 shares during the quarter. Everett Harris & Co. CA’s holdings in Brookfield Infrastructure Partners were worth $286,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of BIP. Principal Financial Group Inc. lifted its stake in Brookfield Infrastructure Partners by 22.1% during the 4th quarter. Principal Financial Group Inc. now owns 19,951,240 shares of the utilities provider’s stock valued at $628,265,000 after acquiring an additional 3,613,608 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Brookfield Infrastructure Partners by 9.6% during the fourth quarter. 1832 Asset Management L.P. now owns 19,209,097 shares of the utilities provider’s stock valued at $604,894,000 after purchasing an additional 1,678,140 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Brookfield Infrastructure Partners by 8.3% during the third quarter. The Manufacturers Life Insurance Company now owns 17,876,978 shares of the utilities provider’s stock worth $525,947,000 after purchasing an additional 1,362,482 shares during the last quarter. Mackenzie Financial Corp grew its position in Brookfield Infrastructure Partners by 28.2% in the 4th quarter. Mackenzie Financial Corp now owns 7,118,909 shares of the utilities provider’s stock worth $224,468,000 after purchasing an additional 1,565,246 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in Brookfield Infrastructure Partners by 20.0% in the 4th quarter. CIBC Asset Management Inc now owns 6,681,918 shares of the utilities provider’s stock valued at $211,259,000 after buying an additional 1,112,217 shares during the last quarter. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE BIP opened at $29.40 on Friday. The business’s fifty day moving average price is $28.77 and its 200-day moving average price is $29.53. Brookfield Infrastructure Partners L.P. has a one year low of $21.03 and a one year high of $36.58. The stock has a market capitalization of $13.64 billion, a PE ratio of 92.68 and a beta of 1.03.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.68). The business had revenue of $5.19 billion for the quarter. Brookfield Infrastructure Partners had a net margin of 2.05% and a return on equity of 1.23%. As a group, equities analysts expect that Brookfield Infrastructure Partners L.P. will post 3.23 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 5.51%. The ex-dividend date was Friday, May 31st. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 522.58%.

Analyst Ratings Changes

BIP has been the topic of a number of research analyst reports. BMO Capital Markets reduced their target price on Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. StockNews.com cut Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. Finally, Jefferies Financial Group decreased their target price on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

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 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.