Raymond James Research Analysts Boost Earnings Estimates for Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) – Stock analysts at Raymond James upped their Q3 2024 earnings per share estimates for Brookfield Infrastructure Partners in a research note issued to investors on Wednesday, May 1st. Raymond James analyst F. Bastien now forecasts that the utilities provider will post earnings of $0.83 per share for the quarter, up from their previous forecast of $0.82. Raymond James currently has a “Strong-Buy” rating and a $44.00 price target on the stock. The consensus estimate for Brookfield Infrastructure Partners’ current full-year earnings is $3.30 per share. Raymond James also issued estimates for Brookfield Infrastructure Partners’ Q4 2024 earnings at $0.86 EPS and Q2 2025 earnings at $0.84 EPS.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, February 1st. The utilities provider reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.99). The business had revenue of $4.97 billion during the quarter. Brookfield Infrastructure Partners had a return on equity of 1.24% and a net margin of 2.05%.

Several other analysts also recently weighed in on the company. TD Securities cut their price target on Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. National Bank Financial lowered Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, January 30th. Jefferies Financial Group cut their price objective on shares of Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. National Bankshares cut shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 target price for the company. in a report on Tuesday, January 30th. Finally, BMO Capital Markets cut their price target on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.20.

Brookfield Infrastructure Partners Trading Up 3.0 %

NYSE:BIP opened at $29.28 on Friday. Brookfield Infrastructure Partners has a one year low of $21.03 and a one year high of $37.32. The company’s 50-day simple moving average is $28.56 and its 200 day simple moving average is $28.68. The firm has a market capitalization of $13.51 billion, a P/E ratio of 94.45 and a beta of 0.99. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.68 and a quick ratio of 0.64.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date is Friday, May 31st. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 522.58%.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Gold Investment Management Ltd. grew its holdings in shares of Brookfield Infrastructure Partners by 2.4% in the first quarter. Gold Investment Management Ltd. now owns 173,223 shares of the utilities provider’s stock worth $5,410,000 after acquiring an additional 4,119 shares during the period. Coronation Fund Managers Ltd. boosted its position in Brookfield Infrastructure Partners by 46.4% in the first quarter. Coronation Fund Managers Ltd. now owns 97,038 shares of the utilities provider’s stock worth $3,029,000 after purchasing an additional 30,737 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Brookfield Infrastructure Partners by 2.2% during the 1st quarter. Private Advisor Group LLC now owns 37,964 shares of the utilities provider’s stock valued at $1,185,000 after purchasing an additional 830 shares during the period. Principal Financial Group Inc. increased its position in shares of Brookfield Infrastructure Partners by 8.5% during the 1st quarter. Principal Financial Group Inc. now owns 21,652,827 shares of the utilities provider’s stock valued at $675,785,000 after purchasing an additional 1,701,587 shares during the last quarter. Finally, Crescent Grove Advisors LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter valued at about $312,000. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

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.