CIBC Private Wealth Group LLC Sells 18,298 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

CIBC Private Wealth Group LLC cut its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 3.0% during the 4th quarter, Holdings Channel reports. The firm owned 595,704 shares of the utilities provider’s stock after selling 18,298 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Brookfield Infrastructure Partners were worth $19,503,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blair William & Co. IL grew its holdings in shares of Brookfield Infrastructure Partners by 6.8% in the fourth quarter. Blair William & Co. IL now owns 34,870 shares of the utilities provider’s stock valued at $1,109,000 after acquiring an additional 2,229 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Brookfield Infrastructure Partners by 35.0% in the 4th quarter. JPMorgan Chase & Co. now owns 29,872 shares of the utilities provider’s stock valued at $950,000 after purchasing an additional 7,742 shares during the period. Mufg Securities Canada LTD. grew its stake in Brookfield Infrastructure Partners by 72.1% in the 4th quarter. Mufg Securities Canada LTD. now owns 704,968 shares of the utilities provider’s stock valued at $22,388,000 after purchasing an additional 295,232 shares during the period. LPL Financial LLC increased its position in shares of Brookfield Infrastructure Partners by 8.5% during the 4th quarter. LPL Financial LLC now owns 159,094 shares of the utilities provider’s stock valued at $5,058,000 after purchasing an additional 12,492 shares during the last quarter. Finally, Guardian Partners Inc. bought a new stake in shares of Brookfield Infrastructure Partners during the 4th quarter worth $3,237,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Analyst Ratings Changes

BIP has been the subject of several research reports. Scotiabank increased their price target on shares of Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 target price on shares of Brookfield Infrastructure Partners in a research report on Tuesday, March 25th. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. TD Securities increased their price objective on Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Raymond James raised their target price on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $42.50.

Brookfield Infrastructure Partners Stock Up 0.3 %

Brookfield Infrastructure Partners stock opened at $29.80 on Tuesday. The firm has a 50 day simple moving average of $31.30 and a 200 day simple moving average of $32.87. The company has a current ratio of 0.08, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72. Brookfield Infrastructure Partners L.P. has a 1-year low of $24.84 and a 1-year high of $36.50. The firm has a market capitalization of $13.83 billion, a price-to-earnings ratio of 745.21 and a beta of 1.10.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings results on Thursday, January 30th. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.58. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. On average, analysts predict that Brookfield Infrastructure Partners L.P. will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.77%. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, February 28th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 4,300.00%.

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.