Brookfield Infrastructure Partners L.P. (NYSE:BIP) Declares Quarterly Dividend of $0.41

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Investors of record on Friday, August 30th will be given a dividend of 0.405 per share by the utilities provider on Friday, September 27th. This represents a $1.62 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date is Friday, August 30th.

Brookfield Infrastructure Partners has increased its dividend payment by an average of 4.5% annually over the last three years and has increased its dividend every year for the last 17 years. Brookfield Infrastructure Partners has a payout ratio of 153.3% 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 $3.51 per share next year, which means the company should continue to be able to cover its $1.61 annual dividend with an expected future payout ratio of 45.9%.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP opened at $30.35 on Friday. The company has a market capitalization of $14.08 billion, a PE ratio of 97.90 and a beta of 1.03. The business has a fifty day moving average price of $29.16 and a two-hundred day moving average price of $29.47. Brookfield Infrastructure Partners has a 1 year low of $21.03 and a 1 year high of $33.52.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.68). The business had revenue of $5.19 billion during the quarter. Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.50%. Sell-side analysts anticipate that Brookfield Infrastructure Partners will post 3.23 earnings per share for the current year.

Wall Street Analyst Weigh In

BIP has been the subject of a number of recent analyst reports. StockNews.com downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. BMO Capital Markets reduced their price objective on Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. Finally, Jefferies Financial Group reduced their price objective on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

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.