Woodmont Investment Counsel LLC Sells 10,000 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Woodmont Investment Counsel LLC reduced its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 13.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,999 shares of the utilities provider’s stock after selling 10,000 shares during the period. Woodmont Investment Counsel LLC’s holdings in Brookfield Infrastructure Partners were worth $2,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cedar Mountain Advisors LLC bought a new stake in Brookfield Infrastructure Partners during the 3rd quarter worth approximately $26,000. Bank & Trust Co acquired a new stake in Brookfield Infrastructure Partners in the second quarter valued at $31,000. Clear Point Advisors Inc. bought a new position in Brookfield Infrastructure Partners during the 1st quarter worth $33,000. Park Place Capital Corp acquired a new position in Brookfield Infrastructure Partners during the 2nd quarter worth about $41,000. Finally, Asset Dedication LLC bought a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter valued at about $46,000. Institutional investors and hedge funds own 57.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BIP shares. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Sunday, September 15th. Cibc World Mkts upgraded shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group increased their price objective on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.40.

Brookfield Infrastructure Partners Price Performance

Shares of BIP opened at $34.70 on Thursday. The firm has a market cap of $16.10 billion, a PE ratio of -204.12 and a beta of 1.06. Brookfield Infrastructure Partners L.P. has a 52-week low of $24.84 and a 52-week high of $36.50. The business’s 50 day moving average price is $33.90 and its two-hundred day moving average price is $31.10. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.76 and a current ratio of 0.81.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.405 per share. The ex-dividend date is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.67%. Brookfield Infrastructure Partners’s payout ratio is presently -952.94%.

About Brookfield Infrastructure Partners

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.