Brookfield Infrastructure Partners (NYSE:BIP) Releases Earnings Results, Misses Estimates By $0.42 EPS

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) issued its quarterly earnings results on Friday. The utilities provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.42), Zacks reports. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $2.05 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share.

Brookfield Infrastructure Partners Price Performance

NYSE BIP traded up $0.85 during trading on Friday, reaching $35.19. 586,853 shares of the company traded hands, compared to its average volume of 524,224. Brookfield Infrastructure Partners has a 1-year low of $25.72 and a 1-year high of $35.64. The company has a market cap of $16.31 billion, a price-to-earnings ratio of 703.86 and a beta of 1.14. The stock’s 50 day moving average price is $32.98 and its two-hundred day moving average price is $32.30. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, November 28th. This represents a $1.72 dividend on an annualized basis and a yield of 4.9%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 3,440.00%.

Institutional Trading of Brookfield Infrastructure Partners

Several institutional investors have recently bought and sold shares of BIP. Goldman Sachs Group Inc. increased its position in Brookfield Infrastructure Partners by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,802,475 shares of the utilities provider’s stock valued at $53,696,000 after acquiring an additional 195,276 shares in the last quarter. Focus Partners Wealth grew its stake in shares of Brookfield Infrastructure Partners by 8.5% during the first quarter. Focus Partners Wealth now owns 24,734 shares of the utilities provider’s stock valued at $737,000 after purchasing an additional 1,931 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Brookfield Infrastructure Partners during the second quarter valued at approximately $2,595,000. Glenview Trust co acquired a new stake in shares of Brookfield Infrastructure Partners in the second quarter valued at approximately $201,000. Finally, Raymond James Financial Inc. raised its position in Brookfield Infrastructure Partners by 8.8% in the 2nd quarter. Raymond James Financial Inc. now owns 724,975 shares of the utilities provider’s stock worth $24,287,000 after purchasing an additional 58,511 shares during the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

Analysts Set New Price Targets

BIP has been the subject of a number of research reports. Jefferies Financial Group set a $37.00 price target on shares of Brookfield Infrastructure Partners and gave the company a “hold” rating in a report on Wednesday, October 29th. National Bank Financial raised shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Royal Bank Of Canada set a $40.00 target price on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research note on Wednesday, August 27th. National Bankshares set a $35.00 price target on Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research note on Friday, September 26th. Finally, Wall Street Zen raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.43.

Brookfield Infrastructure Partners Company Profile

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.