Brookfield Infrastructure Partners L.P. Forecasted to Earn Q3 2024 Earnings of $0.83 Per Share (NYSE:BIP)

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) – Research analysts at Raymond James lifted their Q3 2024 earnings per share estimates for shares of Brookfield Infrastructure Partners in a report issued on Wednesday, May 1st. Raymond James analyst F. Bastien now forecasts that the utilities provider will earn $0.83 per share for the quarter, up from their previous estimate of $0.82. Raymond James currently has a “Strong-Buy” rating and a $44.00 target price on the stock. The consensus estimate for Brookfield Infrastructure Partners’ current full-year earnings is $3.30 per share. Raymond James also issued estimates for Brookfield Infrastructure Partners’ Q4 2024 earnings at $0.86 EPS and Q2 2025 earnings at $0.84 EPS.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Thursday, February 1st. The utilities provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.99). Brookfield Infrastructure Partners had a return on equity of 1.24% and a net margin of 2.05%. The business had revenue of $4.97 billion during the quarter.

Several other equities analysts also recently issued reports on BIP. StockNews.com downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Friday. Jefferies Financial Group cut their price objective on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. TD Securities decreased their target price on Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating for the company in a report on Friday, February 2nd. National Bank Financial lowered Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, January 30th. Finally, BMO Capital Markets reduced their price target 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Brookfield Infrastructure Partners Trading Up 3.0 %

NYSE BIP opened at $29.28 on Friday. Brookfield Infrastructure Partners has a 12-month low of $21.03 and a 12-month high of $37.32. The company has a fifty day simple moving average of $28.56 and a two-hundred day simple moving average of $28.68. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 1.20. The stock has a market cap of $13.51 billion, a P/E ratio of 94.45 and a beta of 0.99.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a $0.405 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.62 annualized dividend and a yield of 5.53%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 522.58%.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new stake in Brookfield Infrastructure Partners during the fourth quarter worth $30,000. Heritage Wealth Advisors acquired a new position in shares of Brookfield Infrastructure Partners in the fourth quarter worth about $31,000. WFA Asset Management Corp boosted its stake in shares of Brookfield Infrastructure Partners by 197.1% during the 1st quarter. WFA Asset Management Corp now owns 1,141 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 757 shares in the last quarter. Rational Advisors LLC acquired a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter valued at about $39,000. Finally, Bromfield Sneider Wealth Advisors acquired a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter valued at about $39,000. Institutional investors and hedge funds 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.