Woodmont Investment Counsel LLC Sells 12,069 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Woodmont Investment Counsel LLC reduced its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 12.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 86,381 shares of the utilities provider’s stock after selling 12,069 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Brookfield Infrastructure Partners were worth $2,696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cullen Frost Bankers Inc. bought a new position in Brookfield Infrastructure Partners in the fourth quarter valued at about $30,000. Heritage Wealth Advisors bought a new position in Brookfield Infrastructure Partners in the fourth quarter valued at about $31,000. Bromfield Sneider Wealth Advisors acquired a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at about $39,000. Tower Research Capital LLC TRC increased its stake in shares of Brookfield Infrastructure Partners by 199.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,712 shares of the utilities provider’s stock valued at $54,000 after buying an additional 1,141 shares during the period. Finally, Scarborough Advisors LLC acquired a new stake in shares of Brookfield Infrastructure Partners in the fourth quarter valued at about $59,000. 57.92% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Partners Trading Up 3.1 %

Shares of NYSE BIP traded up $0.84 during mid-day trading on Tuesday, hitting $27.98. The company had a trading volume of 248,004 shares, compared to its average volume of 485,495. The company has a market capitalization of $12.98 billion, a price-to-earnings ratio of 87.52 and a beta of 1.04. Brookfield Infrastructure Partners L.P. has a 1 year low of $21.03 and a 1 year high of $37.15. The stock’s 50-day moving average price is $28.72 and its 200-day moving average price is $29.55.

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

Brookfield Infrastructure Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 5.79%. The ex-dividend date of this dividend was Friday, May 31st. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 522.58%.

Analyst Upgrades and Downgrades

BIP has been the subject of several recent analyst reports. StockNews.com cut Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. Jefferies Financial Group cut their price target on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Finally, BMO Capital Markets cut their price target on Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

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.