Brookfield Infrastructure Partners L.P. (NYSE:BIP – Get Rating) (TSE:BIP.UN) – National Bank Financial lifted their FY2022 EPS estimates for shares of Brookfield Infrastructure Partners in a research note issued on Thursday, May 5th. National Bank Financial analyst P. Kenny now forecasts that the utilities provider will post earnings of $4.25 per share for the year, up from their prior estimate of $4.12. National Bank Financial has a “Outperfrom Under Weight” rating on the stock. National Bank Financial also issued estimates for Brookfield Infrastructure Partners’ FY2023 earnings at $4.73 EPS.
Brookfield Infrastructure Partners (NYSE:BIP – Get Rating) (TSE:BIP.UN) last announced its earnings results on Wednesday, May 4th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.93). The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $2.27 billion. Brookfield Infrastructure Partners had a net margin of 6.63% and a return on equity of 3.40%. The business’s quarterly revenue was up 27.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS.
BIP has been the subject of several other research reports. Citigroup raised their price objective on shares of Brookfield Infrastructure Partners from $57.00 to $65.00 in a research report on Thursday, February 10th. TD Securities raised their price objective on shares of Brookfield Infrastructure Partners from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, April 1st. StockNews.com started coverage on shares of Brookfield Infrastructure Partners in a research report on Thursday, March 31st. They set a “hold” rating for the company. BMO Capital Markets raised their price objective on shares of Brookfield Infrastructure Partners from $66.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, March 31st. Finally, lowered shares of Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a research report on Thursday, February 3rd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Brookfield Infrastructure Partners has an average rating of “Buy” and a consensus price target of $68.33.
Shares of BIP opened at $61.22 on Monday. The firm has a 50-day moving average price of $63.49 and a 200 day moving average price of $60.53. The firm has a market capitalization of $18.69 billion, a PE ratio of 42.22 and a beta of 0.79. The company has a quick ratio of 0.52, a current ratio of 0.08 and a debt-to-equity ratio of 0.12. Brookfield Infrastructure Partners has a 52-week low of $52.44 and a 52-week high of $69.01.
Shares of Brookfield Infrastructure Partners are set to split on the morning of Monday, June 13th. The 3-2 split was announced on Wednesday, May 4th. The newly minted shares will be payable to shareholders after the market closes on Friday, June 10th.
Several hedge funds and other institutional investors have recently bought and sold shares of BIP. 1832 Asset Management L.P. lifted its position in shares of Brookfield Infrastructure Partners by 23.3% in the fourth quarter. 1832 Asset Management L.P. now owns 9,797,627 shares of the utilities provider’s stock worth $594,607,000 after purchasing an additional 1,851,562 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Brookfield Infrastructure Partners in the fourth quarter worth approximately $101,693,000. Capital World Investors lifted its position in shares of Brookfield Infrastructure Partners by 8.8% in the fourth quarter. Capital World Investors now owns 19,659,851 shares of the utilities provider’s stock worth $1,196,578,000 after purchasing an additional 1,584,397 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Brookfield Infrastructure Partners by 19.6% during the third quarter. Goldman Sachs Group Inc. now owns 5,939,126 shares of the utilities provider’s stock valued at $333,244,000 after acquiring an additional 973,311 shares in the last quarter. Finally, CCLA Investment Management Ltd raised its position in Brookfield Infrastructure Partners by 888.5% during the first quarter. CCLA Investment Management Ltd now owns 974,847 shares of the utilities provider’s stock valued at $63,685,000 after acquiring an additional 876,227 shares in the last quarter. 53.98% of the stock is owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Friday, May 27th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 148.97%.
About Brookfield Infrastructure Partners (Get Rating)
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 61,000 kilometers (km) of operational electricity transmission and distribution lines; 5,300 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted sub-metering services.
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