BIP FY2024 EPS Estimate Cut by National Bank Financial

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) – Equities researchers at National Bank Financial cut their FY2024 earnings per share estimates for 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 of $3.06 per share for the year, down from their prior estimate of $3.12. The consensus estimate for Brookfield Infrastructure Partners’ current full-year earnings is $3.15 per share.

Several other research firms have also recently commented on BIP. TD Securities raised their target price on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com downgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Friday. Jefferies Financial Group lifted their price objective on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Cibc World Mkts raised Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield Infrastructure Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.20.

Brookfield Infrastructure Partners Stock Performance

NYSE:BIP opened at $34.28 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of -201.64 and a beta of 1.06. The firm’s fifty day moving average price is $33.98 and its 200 day moving average price is $31.16. Brookfield Infrastructure Partners has a 1-year low of $24.84 and a 1-year high of $36.50.

Brookfield Infrastructure Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 4.73%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently -952.89%.

Hedge Funds Weigh In On Brookfield Infrastructure Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Forge First Asset Management Inc. increased its stake in shares of Brookfield Infrastructure Partners by 92.5% during the 1st quarter. Forge First Asset Management Inc. now owns 201,600 shares of the utilities provider’s stock worth $6,286,000 after purchasing an additional 96,890 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Brookfield Infrastructure Partners by 137.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 564,621 shares of the utilities provider’s stock valued at $19,784,000 after buying an additional 327,143 shares during the last quarter. Coronation Fund Managers Ltd. increased its position in Brookfield Infrastructure Partners by 52.9% during the second quarter. Coronation Fund Managers Ltd. now owns 148,416 shares of the utilities provider’s stock worth $4,073,000 after buying an additional 51,378 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Brookfield Infrastructure Partners in the third quarter worth $894,000. Finally, Value Partners Investments Inc. purchased a new stake in shares of Brookfield Infrastructure Partners in the third quarter valued at $596,000. 57.92% of the stock is owned by institutional investors and hedge funds.

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.