Raymond James Weighs in on Brookfield Infrastructure Partners L.P.’s Q1 2023 Earnings (NYSE:BIP)

Brookfield Infrastructure Partners L.P. (NYSE:BIP – Get Rating) (TSE:BIP.UN) – Investment analysts at Raymond James decreased their Q1 2023 earnings estimates for Brookfield Infrastructure Partners in a report issued on Thursday, August 4th. Raymond James analyst F. Bastien now forecasts that the utilities provider will post earnings of $0.71 per share for the quarter, down from their previous estimate of $0.72. Raymond James has a “Outperform” rating and a $46.67 price target on the stock. The consensus estimate for Brookfield Infrastructure Partners’ current full-year earnings is $2.75 per share. Raymond James also issued estimates for Brookfield Infrastructure Partners’ Q2 2023 earnings at $0.73 EPS, Q3 2023 earnings at $0.77 EPS, Q4 2023 earnings at $0.78 EPS and FY2023 earnings at $3.00 EPS.

Brookfield Infrastructure Partners (NYSE:BIP – Get Rating) (TSE:BIP.UN) last announced its earnings results on Wednesday, August 3rd. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.50). The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Brookfield Infrastructure Partners had a net margin of 5.20% and a return on equity of 2.74%. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 earnings per share.

BIP has been the topic of several other research reports. StockNews.com downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Royal Bank of Canada lifted their price target on shares of Brookfield Infrastructure Partners from $43.33 to $46.67 and gave the stock an “outperform” rating in a research note on Thursday, May 5th. Credit Suisse Group upgraded Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and set a $49.50 target price for the company in a research report on Thursday, June 30th. Wells Fargo & Company raised their price target on Brookfield Infrastructure Partners from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, National Bankshares increased their target price on Brookfield Infrastructure Partners from $45.33 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, May 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Brookfield Infrastructure Partners presently has an average rating of “Moderate Buy” and a consensus price target of $46.80.

Brookfield Infrastructure Partners Trading Up 1.3 %

Shares of BIP stock opened at $41.02 on Friday. The company has a market cap of $18.78 billion, a PE ratio of 59.45 and a beta of 0.76. Brookfield Infrastructure Partners has a 1 year low of $35.81 and a 1 year high of $46.01. The stock’s 50 day simple moving average is $39.37 and its two-hundred day simple moving average is $40.58. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.08 and a quick ratio of 0.08.

Hedge Funds Weigh In On Brookfield Infrastructure Partners

Institutional investors have recently bought and sold shares of the business. Capital World Investors raised its holdings in Brookfield Infrastructure Partners by 8.8% in the fourth quarter. Capital World Investors now owns 19,659,851 shares of the utilities provider’s stock worth $1,196,578,000 after purchasing an additional 1,584,397 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Brookfield Infrastructure Partners by 50.8% during the second quarter. TD Asset Management Inc. now owns 15,707,894 shares of the utilities provider’s stock worth $599,160,000 after purchasing an additional 5,288,869 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Brookfield Infrastructure Partners by 1.1% during the 1st quarter. 1832 Asset Management L.P. now owns 9,907,990 shares of the utilities provider’s stock valued at $647,951,000 after purchasing an additional 110,363 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Brookfield Infrastructure Partners by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 9,482,667 shares of the utilities provider’s stock worth $628,037,000 after purchasing an additional 229,265 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Brookfield Infrastructure Partners by 3.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,722,352 shares of the utilities provider’s stock worth $469,596,000 after buying an additional 254,286 shares during the last quarter. 53.98% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, August 31st will be given a $0.36 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $1.44 annualized dividend and a dividend yield of 3.51%. Brookfield Infrastructure Partners’s payout ratio is presently 208.70%.

Brookfield Infrastructure Partners Company Profile

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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 61,000 kilometers (km) of operational electricity transmission and distribution lines; 5,300 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted sub-metering services.

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