Crossmark Global Holdings Inc. Cuts Stock Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Crossmark Global Holdings Inc. lowered its position in Brookfield Infrastructure Partners L.P. (NYSE:BIPFree Report) (TSE:BIP.UN) by 27.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 29,515 shares of the utilities provider’s stock after selling 11,265 shares during the period. Crossmark Global Holdings Inc.’s holdings in Brookfield Infrastructure Partners were worth $930,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. CIBC Asset Management Inc grew its position in Brookfield Infrastructure Partners by 20.0% in the 4th 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 in the last quarter. Gold Investment Management Ltd. purchased a new stake in shares of Brookfield Infrastructure Partners during the fourth quarter valued at approximately $5,330,000. Triasima Portfolio Management inc. bought a new stake in Brookfield Infrastructure Partners during the fourth quarter worth $12,322,000. Stratos Wealth Partners LTD. purchased a new position in Brookfield Infrastructure Partners in the fourth quarter worth $205,000. Finally, Dixon Mitchell Investment Counsel Inc. grew its stake in Brookfield Infrastructure Partners by 71.2% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 765,686 shares of the utilities provider’s stock valued at $24,266,000 after purchasing an additional 318,398 shares during the period. 57.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BIP has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their target price on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. BMO Capital Markets dropped their target price on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Finally, StockNews.com lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Infrastructure Partners has an average rating of “Moderate Buy” and an average price target of $38.20.

Get Our Latest Analysis on Brookfield Infrastructure Partners

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP opened at $28.59 on Tuesday. The firm has a fifty day moving average price of $28.71 and a two-hundred day moving average price of $29.57. The company has a market cap of $13.26 billion, a price-to-earnings ratio of 92.23 and a beta of 1.04. Brookfield Infrastructure Partners L.P. has a one year low of $21.03 and a one year high of $37.32.

Brookfield Infrastructure Partners (NYSE:BIPGet Free Report) (TSE:BIP.UN) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.68). The business had revenue of $5.19 billion for the quarter. Brookfield Infrastructure Partners had a net margin of 2.05% and a return on equity of 1.23%. Equities research analysts expect that Brookfield Infrastructure Partners L.P. will post 3.23 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 5.67%. The ex-dividend date is Friday, May 31st. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 522.58%.

About Brookfield Infrastructure Partners

(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.

Further Reading

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

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