Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) announced a quarterly dividend on Thursday, February 4th, Wall Street Journal reports. Shareholders of record on Friday, February 26th will be given a dividend of 0.51 per share by the utilities provider on Wednesday, March 31st. This represents a $2.04 annualized dividend and a yield of 3.82%. The ex-dividend date is Thursday, February 25th. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.49.
Brookfield Infrastructure Partners has increased its dividend by 14.5% over the last three years and has increased its dividend annually for the last 1 consecutive years. Brookfield Infrastructure Partners has a dividend payout ratio of 245.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Brookfield Infrastructure Partners to earn $3.40 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 60.0%.
BIP stock opened at $53.46 on Tuesday. The company has a market capitalization of $15.79 billion, a price-to-earnings ratio of -198.00 and a beta of 0.83. Brookfield Infrastructure Partners has a 12 month low of $25.77 and a 12 month high of $54.85. The firm has a 50 day moving average of $52.14 and a two-hundred day moving average of $48.73.
A number of analysts have recently weighed in on BIP shares. Royal Bank of Canada boosted their price objective on shares of Brookfield Infrastructure Partners from $57.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, February 4th. Zacks Investment Research cut shares of Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a research note on Friday, November 13th. Credit Suisse Group upgraded shares of Brookfield Infrastructure Partners from an “underperform” rating to a “neutral” rating and upped their target price for the company from $43.00 to $50.00 in a research note on Monday, November 23rd. Barclays upped their target price on shares of Brookfield Infrastructure Partners from $71.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 9th. Finally, Raymond James set a $65.00 target price on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research note on Friday, February 12th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.27.
About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses in North and South America, Europe, and the Asia Pacific. 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; and approximately 6.7 million electricity and natural gas connections, as well as operates coal export terminals.
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