National Bank Financial Weighs in on BIP FY2024 Earnings

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) – National Bank Financial lifted their FY2024 EPS estimates for shares of Brookfield Infrastructure Partners in a report issued on Monday, January 6th. National Bank Financial analyst P. Kenny now expects that the utilities provider will post earnings of $3.10 per share for the year, up from their prior estimate of $3.06. The consensus estimate for Brookfield Infrastructure Partners’ current full-year earnings is $3.07 per share. National Bank Financial also issued estimates for Brookfield Infrastructure Partners’ FY2026 earnings at $3.70 EPS and FY2027 earnings at $3.88 EPS.

A number of other research analysts have also recently commented on the company. TD Securities raised 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, November 7th. Jefferies Financial Group raised their price objective on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.20.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP opened at $32.65 on Thursday. Brookfield Infrastructure Partners has a one year low of $24.84 and a one year high of $36.50. The company has a 50-day simple moving average of $33.59 and a two-hundred day simple moving average of $32.55. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.77 and a quick ratio of 0.72. The firm has a market capitalization of $15.08 billion, a PE ratio of -85.92 and a beta of 1.07.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in BIP. AGF Management Ltd. boosted its position in Brookfield Infrastructure Partners by 26.1% in the second quarter. AGF Management Ltd. now owns 3,204,547 shares of the utilities provider’s stock worth $88,027,000 after purchasing an additional 663,726 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in Brookfield Infrastructure Partners during the second quarter valued at approximately $166,000. Schneider Downs Wealth Management Advisors LP increased its holdings in Brookfield Infrastructure Partners by 26.9% during the second quarter. Schneider Downs Wealth Management Advisors LP now owns 15,380 shares of the utilities provider’s stock valued at $422,000 after buying an additional 3,263 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Brookfield Infrastructure Partners by 2.2% during the second quarter. Envestnet Asset Management Inc. now owns 73,734 shares of the utilities provider’s stock valued at $2,023,000 after buying an additional 1,612 shares during the last quarter. Finally, Wulff Hansen & CO. raised its position in Brookfield Infrastructure Partners by 2,562.9% in the second quarter. Wulff Hansen & CO. now owns 1,615,448 shares of the utilities provider’s stock worth $44,328,000 after acquiring an additional 1,554,782 shares during the period. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 4.96%. Brookfield Infrastructure Partners’s payout ratio is -426.32%.

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.