Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) – Stock analysts at Raymond James reduced their FY2019 earnings per share estimates for Brookfield Infrastructure Partners in a report issued on Tuesday, December 24th, according to Zacks Investment Research. Raymond James analyst F. Bastien now expects that the utilities provider will earn $3.39 per share for the year, down from their previous estimate of $3.44. Raymond James has a “Outperform” rating and a $60.00 price objective on the stock. Raymond James also issued estimates for Brookfield Infrastructure Partners’ Q4 2019 earnings at $0.85 EPS, Q1 2020 earnings at $0.94 EPS, Q2 2020 earnings at $0.92 EPS, Q3 2020 earnings at $0.92 EPS, Q4 2020 earnings at $0.97 EPS and FY2020 earnings at $3.75 EPS.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.74). Brookfield Infrastructure Partners had a net margin of 4.27% and a return on equity of 1.82%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Brookfield Infrastructure Partners’s revenue for the quarter was up 42.6% on a year-over-year basis.
BIP has been the topic of several other reports. TD Securities upped their target price on shares of Brookfield Infrastructure Partners from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Bank of America began coverage on shares of Brookfield Infrastructure Partners in a research note on Wednesday, December 18th. They set a “buy” rating and a $58.00 target price on the stock. Zacks Investment Research downgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. BMO Capital Markets set a $53.00 target price on shares of Brookfield Infrastructure Partners and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Barclays upped their target price on shares of Brookfield Infrastructure Partners from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $52.36.
Shares of BIP opened at $50.25 on Friday. Brookfield Infrastructure Partners has a fifty-two week low of $35.74 and a fifty-two week high of $52.83. The firm’s 50 day moving average price is $51.16 and its 200 day moving average price is $47.57. The company has a market cap of $14.01 billion, a P/E ratio of 250.25, a PEG ratio of 1.35 and a beta of 0.80. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.91.
Several large investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. increased its position in shares of Brookfield Infrastructure Partners by 2.4% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 11,430 shares of the utilities provider’s stock valued at $491,000 after purchasing an additional 270 shares during the last quarter. US Bancorp DE increased its position in shares of Brookfield Infrastructure Partners by 7.6% in the 2nd quarter. US Bancorp DE now owns 4,262 shares of the utilities provider’s stock valued at $183,000 after purchasing an additional 300 shares during the last quarter. Laurel Wealth Advisors Inc. boosted its holdings in shares of Brookfield Infrastructure Partners by 0.7% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 46,885 shares of the utilities provider’s stock valued at $2,013,000 after buying an additional 305 shares in the last quarter. Mutual Advisors LLC boosted its holdings in shares of Brookfield Infrastructure Partners by 5.2% in the 3rd quarter. Mutual Advisors LLC now owns 6,354 shares of the utilities provider’s stock valued at $315,000 after buying an additional 314 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Brookfield Infrastructure Partners by 1.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 24,972 shares of the utilities provider’s stock valued at $1,072,000 after buying an additional 466 shares in the last quarter. 50.26% of the stock is currently owned by institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a $0.502 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Thursday, November 28th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 340.68%.
About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.
