Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 345,823 shares of the utilities provider’s stock after selling 36,382 shares during the period. Wells Fargo & Company MN owned 0.07% of Brookfield Infrastructure Partners worth $10,994,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BIP. Geode Capital Management LLC grew its holdings in shares of Brookfield Infrastructure Partners by 39.5% during the fourth quarter. Geode Capital Management LLC now owns 19,064 shares of the utilities provider’s stock valued at $606,000 after purchasing an additional 5,398 shares during the last quarter. Summit Financial LLC raised its position in shares of Brookfield Infrastructure Partners by 14.7% during the fourth quarter. Summit Financial LLC now owns 10,212 shares of the utilities provider’s stock worth $325,000 after purchasing an additional 1,311 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in shares of Brookfield Infrastructure Partners by 47.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 92,773 shares of the utilities provider’s stock valued at $2,945,000 after acquiring an additional 29,962 shares during the period. Blair William & Co. IL lifted its stake in Brookfield Infrastructure Partners by 6.8% in the 4th quarter. Blair William & Co. IL now owns 34,870 shares of the utilities provider’s stock worth $1,109,000 after acquiring an additional 2,229 shares in the last quarter. Finally, JPMorgan Chase & Co. increased 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 buying an additional 7,742 shares during the period. Institutional investors and hedge funds own 57.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BIP shares. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. TD Securities raised their price objective on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Raymond James increased their target price on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 30th. Scotiabank upped their price objective 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Tuesday, March 25th. One analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Infrastructure Partners has an average rating of “Buy” and a consensus price target of $42.50.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE BIP opened at $28.55 on Wednesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.08 and a quick ratio of 0.72. The business has a 50-day moving average of $30.19 and a 200-day moving average of $32.41. The stock has a market capitalization of $13.25 billion, a price-to-earnings ratio of 713.88 and a beta of 1.04. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $24.84 and a fifty-two week high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, January 30th. The utilities provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.58. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. As a group, sell-side analysts predict that Brookfield Infrastructure Partners L.P. will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a $0.43 dividend. The ex-dividend date was Friday, February 28th. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 6.02%. Brookfield Infrastructure Partners’s payout ratio is 4,300.00%.

Brookfield Infrastructure Partners Company 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.