Brookfield Infrastructure Partners L.P. (NYSE:BIP) to Issue Quarterly Dividend of $0.41

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) declared a quarterly dividend on Wednesday, November 6th, Zacks reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.405 per share by the utilities provider on Tuesday, December 31st. This represents a $1.62 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date is Friday, November 29th.

Brookfield Infrastructure Partners has increased its dividend payment by an average of 4.8% annually over the last three years and has increased its dividend annually for the last 17 consecutive years. Brookfield Infrastructure Partners has a payout ratio of 167.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Brookfield Infrastructure Partners to earn $3.40 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 47.6%.

Brookfield Infrastructure Partners Trading Up 0.6 %

Shares of BIP stock traded up $0.20 on Thursday, reaching $34.67. The company had a trading volume of 422,867 shares, compared to its average volume of 433,325. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58. The stock has a market cap of $16.08 billion, a PE ratio of -204.12 and a beta of 1.06. The company has a 50-day moving average of $33.90 and a 200-day moving average of $31.10. Brookfield Infrastructure Partners has a 12 month low of $24.84 and a 12 month high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.98). The company had revenue of $5.27 billion during the quarter. Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. On average, equities analysts forecast that Brookfield Infrastructure Partners will post 3.15 earnings per share for the current year.

Wall Street Analyst Weigh In

BIP has been the subject of a number of research reports. Jefferies Financial Group increased their target price on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Sunday, September 15th. Finally, Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. Three investment 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.40.

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.