Brokers Offer Predictions for Brookfield Infrastructure Partners L.P.’s Q3 2024 Earnings (NYSE:BIP)

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) – Investment analysts at Raymond James raised their Q3 2024 earnings per share estimates for Brookfield Infrastructure Partners in a report issued on Wednesday, May 1st. Raymond James analyst F. Bastien now anticipates that the utilities provider will post earnings of $0.83 per share for the quarter, up from their prior estimate 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 $3.29 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.

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

BIP has been the topic of several other reports. TD Securities dropped their price target on shares of Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. BMO Capital Markets dropped their target price 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. National Bank Financial downgraded shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, January 30th. National Bankshares downgraded Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 price target on the stock. in a research report on Tuesday, January 30th. Finally, StockNews.com downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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 12 month low of $21.03 and a 12 month high of $37.32. The stock has a 50 day moving average of $28.56 and a 200-day moving average of $28.70. The company has a market cap of $13.51 billion, a PE ratio of 94.45 and a beta of 0.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Triasima Portfolio Management inc. acquired a new position in shares of Brookfield Infrastructure Partners in the fourth quarter valued at about $12,322,000. Stratos Wealth Partners LTD. acquired a new position in shares of Brookfield Infrastructure Partners during the 4th quarter worth approximately $205,000. Dixon Mitchell Investment Counsel Inc. increased its holdings in shares of Brookfield Infrastructure Partners by 71.2% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 765,686 shares of the utilities provider’s stock worth $24,266,000 after purchasing an additional 318,398 shares during the period. Nexus Investment Management ULC raised its position in shares of Brookfield Infrastructure Partners by 8.2% in the fourth quarter. Nexus Investment Management ULC now owns 1,119,440 shares of the utilities provider’s stock valued at $35,393,000 after buying an additional 84,749 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Brookfield Infrastructure Partners by 1.1% in the third quarter. CIBC Asset Management Inc now owns 5,569,701 shares of the utilities provider’s stock valued at $163,953,000 after buying an additional 60,510 shares during the period. 57.92% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a dividend of $0.405 per share. The ex-dividend date is Friday, May 31st. This represents a $1.62 annualized dividend and a yield of 5.53%. Brookfield Infrastructure Partners’s payout ratio is currently 522.58%.

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.