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

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) – Equities research analysts at Raymond James increased their Q3 2024 earnings estimates for Brookfield Infrastructure Partners in a research report issued to clients and investors on Wednesday, May 1st. Raymond James analyst F. Bastien now anticipates that the utilities provider will earn $0.83 per share for the quarter, up from their previous forecast of $0.82. Raymond James 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 $3.29 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.

Several other brokerages have also weighed in on BIP. BMO Capital Markets cut their price objective on Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday. National Bank Financial lowered shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, January 30th. National Bankshares cut shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 price objective on the stock. in a research note on Tuesday, January 30th. StockNews.com lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Jefferies Financial Group decreased their price target 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. One analyst has rated the stock with a sell rating, two have given 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE BIP opened at $29.28 on Friday. Brookfield Infrastructure Partners has a 1 year low of $21.03 and a 1 year high of $37.32. The firm has a market cap of $13.51 billion, a P/E ratio of 94.45 and a beta of 0.99. The stock has a fifty day moving average price of $28.56 and a two-hundred day moving average price of $28.70.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Thursday, February 1st. The utilities provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.99). The company had revenue of $4.97 billion for the quarter. Brookfield Infrastructure Partners had a net margin of 2.05% and a return on equity of 1.23%.

Brookfield Infrastructure Partners Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in Brookfield Infrastructure Partners by 22.1% during the 4th quarter. Principal Financial Group Inc. now owns 19,951,240 shares of the utilities provider’s stock valued at $628,265,000 after acquiring an additional 3,613,608 shares in the last quarter. Bank of Nova Scotia boosted its holdings in shares of Brookfield Infrastructure Partners by 413.9% during the third quarter. Bank of Nova Scotia now owns 4,278,411 shares of the utilities provider’s stock worth $125,557,000 after purchasing an additional 3,445,832 shares during the period. 1832 Asset Management L.P. grew its position in Brookfield Infrastructure Partners by 9.6% during the fourth quarter. 1832 Asset Management L.P. now owns 19,209,097 shares of the utilities provider’s stock valued at $604,894,000 after purchasing an additional 1,678,140 shares in the last quarter. Mackenzie Financial Corp increased its stake in Brookfield Infrastructure Partners by 28.2% in the 4th quarter. Mackenzie Financial Corp now owns 7,118,909 shares of the utilities provider’s stock valued at $224,468,000 after buying an additional 1,565,246 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Brookfield Infrastructure Partners by 8.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,876,978 shares of the utilities provider’s stock worth $525,947,000 after buying an additional 1,362,482 shares in the last quarter. 57.92% of the stock is owned by institutional investors and hedge funds.

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.