Peapack Gladstone Financial Corp Sells 4,075 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Peapack Gladstone Financial Corp cut its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIPFree Report) (TSE:BIP.UN) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,440 shares of the utilities provider’s stock after selling 4,075 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Brookfield Infrastructure Partners were worth $1,620,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. CIBC Asset Management Inc raised its holdings in Brookfield Infrastructure Partners by 20.0% in the fourth quarter. CIBC Asset Management Inc now owns 6,681,918 shares of the utilities provider’s stock worth $211,259,000 after purchasing an additional 1,112,217 shares during the period. Scotia Capital Inc. raised its holdings in shares of Brookfield Infrastructure Partners by 4.1% during the fourth quarter. Scotia Capital Inc. now owns 5,858,382 shares of the utilities provider’s stock worth $184,385,000 after acquiring an additional 233,330 shares during the period. Gold Investment Management Ltd. acquired a new stake in shares of Brookfield Infrastructure Partners during the fourth quarter worth $5,330,000. Heritage Wealth Advisors acquired a new stake in shares of Brookfield Infrastructure Partners during the fourth quarter worth $31,000. Finally, Clearbridge Investments LLC raised its holdings in shares of Brookfield Infrastructure Partners by 17.6% during the fourth quarter. Clearbridge Investments LLC now owns 2,076,718 shares of the utilities provider’s stock worth $65,396,000 after acquiring an additional 310,143 shares during the period. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Jefferies Financial Group dropped their price objective on shares of Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Finally, BMO Capital Markets decreased their target price on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.20.

Get Our Latest Research Report on BIP

Brookfield Infrastructure Partners Price Performance

Shares of BIP opened at $29.17 on Thursday. The firm has a 50-day moving average of $28.83 and a 200-day moving average of $29.51. Brookfield Infrastructure Partners L.P. has a one year low of $21.03 and a one year high of $37.32. The company has a market cap of $13.46 billion, a PE ratio of 94.10 and a beta of 1.04.

Brookfield Infrastructure Partners (NYSE:BIPGet Free Report) (TSE:BIP.UN) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $5.19 billion during the quarter. Analysts expect that Brookfield Infrastructure Partners L.P. will post 3.23 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 5.55%. The ex-dividend date is Friday, May 31st. Brookfield Infrastructure Partners’s payout ratio is 522.58%.

Brookfield Infrastructure Partners Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BIP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Infrastructure Partners L.P. (NYSE:BIPFree Report) (TSE:BIP.UN).

Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

Receive News & Ratings for Brookfield Infrastructure Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Infrastructure Partners and related companies with MarketBeat.com's FREE daily email newsletter.