National Bank Financial Forecasts BIP FY2024 Earnings

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) – Equities research analysts at National Bank Financial cut their FY2024 earnings estimates for shares of Brookfield Infrastructure Partners in a note issued to investors on Wednesday, November 6th. National Bank Financial analyst P. Kenny now expects that the utilities provider will post earnings of $3.06 per share for the year, down from their previous forecast of $3.12. The consensus estimate for Brookfield Infrastructure Partners’ current full-year earnings is $3.15 per share.

Several other research firms have also issued reports on BIP. StockNews.com lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Friday. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. TD Securities increased their price target on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Jefferies Financial Group boosted their price objective on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.20.

Brookfield Infrastructure Partners Price Performance

Shares of BIP stock opened at $34.29 on Friday. The firm’s 50 day moving average price is $33.98 and its two-hundred day moving average price is $31.19. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.76 and a current ratio of 0.81. Brookfield Infrastructure Partners has a 52-week low of $24.84 and a 52-week high of $36.50. The stock has a market cap of $15.83 billion, a PE ratio of -90.24 and a beta of 1.06.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BIP. Advisors Asset Management Inc. raised its holdings in shares of Brookfield Infrastructure Partners by 4.6% during the third quarter. Advisors Asset Management Inc. now owns 32,093 shares of the utilities provider’s stock worth $1,125,000 after acquiring an additional 1,406 shares during the period. PCJ Investment Counsel Ltd. increased its holdings in Brookfield Infrastructure Partners by 72.3% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 645,740 shares of the utilities provider’s stock worth $22,636,000 after purchasing an additional 271,020 shares in the last quarter. ING Groep NV raised its stake in shares of Brookfield Infrastructure Partners by 16.7% in the 3rd quarter. ING Groep NV now owns 219,452 shares of the utilities provider’s stock valued at $7,690,000 after purchasing an additional 31,452 shares during the period. Empower Advisory Group LLC bought a new stake in shares of Brookfield Infrastructure Partners in the third quarter valued at about $229,000. Finally, GSA Capital Partners LLP boosted its position in shares of Brookfield Infrastructure Partners by 197.9% during the third quarter. GSA Capital Partners LLP now owns 71,941 shares of the utilities provider’s stock worth $2,521,000 after buying an additional 47,792 shares during the period. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 annualized dividend and a yield of 4.72%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently -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.