National Bank Financial Estimates BIP FY2024 Earnings

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) – National Bank Financial lowered their FY2024 EPS estimates for shares of Brookfield Infrastructure Partners in a report issued on Wednesday, November 6th. National Bank Financial analyst P. Kenny now anticipates that the utilities provider will post earnings per share of $3.06 for the year, down from their previous forecast of $3.12. The consensus estimate for Brookfield Infrastructure Partners’ current full-year earnings is $3.15 per share.

Several other brokerages also recently weighed in on BIP. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. TD Securities upped their target price on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Sunday, September 15th. Finally, Jefferies Financial Group lifted their price target on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Infrastructure Partners currently has an average rating of “Moderate Buy” and a consensus target price of $40.20.

Brookfield Infrastructure Partners Stock Performance

NYSE:BIP opened at $34.21 on Friday. Brookfield Infrastructure Partners has a 1-year low of $24.84 and a 1-year high of $36.50. The firm has a 50 day simple moving average of $33.93 and a 200-day simple moving average of $31.12. The firm has a market cap of $15.80 billion, a PE ratio of -201.22 and a beta of 1.06. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.81 and a quick ratio of 0.76.

Brookfield Infrastructure Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, November 29th. This represents a $1.62 annualized dividend and a yield of 4.74%. Brookfield Infrastructure Partners’s dividend payout ratio is presently -952.89%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC increased its holdings in Brookfield Infrastructure Partners by 2.2% in the 1st quarter. Private Advisor Group LLC now owns 37,964 shares of the utilities provider’s stock valued at $1,185,000 after purchasing an additional 830 shares in the last quarter. Tranquility Partners LLC boosted its position in shares of Brookfield Infrastructure Partners by 1.6% in the first quarter. Tranquility Partners LLC now owns 68,361 shares of the utilities provider’s stock worth $2,134,000 after buying an additional 1,093 shares during the period. Avantax Advisory Services Inc. acquired a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at about $247,000. Texas Yale Capital Corp. raised its holdings in shares of Brookfield Infrastructure Partners by 10.6% during the 1st quarter. Texas Yale Capital Corp. now owns 34,903 shares of the utilities provider’s stock valued at $1,089,000 after buying an additional 3,335 shares during the period. Finally, Kingsview Wealth Management LLC lifted its position in Brookfield Infrastructure Partners by 12.2% during the 1st quarter. Kingsview Wealth Management LLC now owns 7,294 shares of the utilities provider’s stock worth $228,000 after acquiring an additional 795 shares in the last quarter. Hedge funds and other institutional investors own 57.92% of the company’s stock.

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.