Tritonpoint Wealth LLC Sells 5,962 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Tritonpoint Wealth LLC lessened its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 151,593 shares of the utilities provider’s stock after selling 5,962 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Brookfield Infrastructure Partners were worth $4,516,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in BIP. Promus Capital LLC purchased a new position in shares of Brookfield Infrastructure Partners in the fourth quarter worth $26,000. Compass Planning Associates Inc bought a new position in Brookfield Infrastructure Partners during the fourth quarter valued at approximately $28,000. Larson Financial Group LLC bought a new position in Brookfield Infrastructure Partners during the fourth quarter valued at approximately $30,000. Stonebridge Financial Group LLC purchased a new stake in Brookfield Infrastructure Partners during the fourth quarter valued at approximately $44,000. Finally, Parallel Advisors LLC purchased a new stake in Brookfield Infrastructure Partners during the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price target on shares of Brookfield Infrastructure Partners in a report on Tuesday, March 25th. Citigroup dropped their price target on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $41.67.

Brookfield Infrastructure Partners Trading Down 2.3%

NYSE:BIP opened at $33.05 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.08. The stock has a market capitalization of $15.35 billion, a price-to-earnings ratio of 826.46 and a beta of 1.09. Brookfield Infrastructure Partners L.P. has a 1 year low of $25.72 and a 1 year high of $36.50. The stock has a fifty day moving average price of $31.17 and a two-hundred day moving average price of $31.51.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $5.39 billion for the quarter, compared to analyst estimates of $2 billion. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. During the same period last year, the company earned $0.78 EPS. As a group, sell-side analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 5.20%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently -8,600.00%.

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.