Truist Financial Corp Sells 956 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Truist Financial Corp lowered its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 3.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,718 shares of the utilities provider’s stock after selling 956 shares during the quarter. Truist Financial Corp’s holdings in Brookfield Infrastructure Partners were worth $902,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. CCLA Investment Management lifted its holdings in shares of Brookfield Infrastructure Partners by 17.6% during the second quarter. CCLA Investment Management now owns 2,088,681 shares of the utilities provider’s stock worth $76,155,000 after buying an additional 312,887 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 3.4% during the second quarter. LPL Financial LLC now owns 176,708 shares of the utilities provider’s stock worth $6,450,000 after buying an additional 5,810 shares during the last quarter. Hudock Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 7.3% during the second quarter. Hudock Inc. now owns 6,675 shares of the utilities provider’s stock worth $244,000 after buying an additional 455 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Brookfield Infrastructure Partners during the second quarter worth approximately $357,000. Finally, Everett Harris & Co. CA lifted its holdings in shares of Brookfield Infrastructure Partners by 2.0% during the second quarter. Everett Harris & Co. CA now owns 24,726 shares of the utilities provider’s stock worth $902,000 after buying an additional 474 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

Brookfield Infrastructure Partners stock opened at $27.01 on Tuesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.65 and a quick ratio of 0.60. The stock has a fifty day moving average price of $28.32 and a two-hundred day moving average price of $32.72. Brookfield Infrastructure Partners L.P. has a 52-week low of $21.03 and a 52-week high of $38.20. The firm has a market capitalization of $12.39 billion, a P/E ratio of 87.13 and a beta of 0.93.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.382 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.53 annualized dividend and a yield of 5.66%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 493.55%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BIP. Scotiabank cut their price target on Brookfield Infrastructure Partners from $44.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, October 25th. BMO Capital Markets cut their target price on Brookfield Infrastructure Partners from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday. Raymond James cut their target price on Brookfield Infrastructure Partners from $45.00 to $40.00 and set a “strong-buy” rating for the company in a research note on Thursday, November 2nd. StockNews.com started coverage on Brookfield Infrastructure Partners in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company cut their target price on Brookfield Infrastructure Partners from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Friday, September 22nd. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $38.44.

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 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.