Q3 2024 Earnings Forecast for Brookfield Infrastructure Partners L.P. Issued By Raymond James (NYSE:BIP)

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) – Investment analysts at Raymond James increased their Q3 2024 earnings estimates for shares of Brookfield Infrastructure Partners in a research report issued to clients and investors on Wednesday, May 1st. Raymond James analyst F. Bastien now expects that the utilities provider will post earnings of $0.83 per share for the quarter, up from their previous estimate of $0.82. Raymond James currently has a “Strong-Buy” rating and a $44.00 target price on the stock. The consensus estimate for Brookfield Infrastructure Partners’ current full-year earnings is $3.30 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 earnings results on Thursday, February 1st. The utilities provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.99). Brookfield Infrastructure Partners had a net margin of 2.05% and a return on equity of 1.24%. The company had revenue of $4.97 billion during the quarter.

Other research analysts have also recently issued research reports about the stock. National Bankshares cut shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 target price on the stock. in a research report on Tuesday, January 30th. Jefferies Financial Group cut 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 note on Wednesday, April 17th. National Bank Financial lowered shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, January 30th. BMO Capital Markets cut their price target on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, TD Securities cut their target price on shares of Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Brookfield Infrastructure Partners Trading Up 3.3 %

NYSE BIP opened at $28.44 on Friday. The firm’s 50-day moving average is $28.58 and its two-hundred day moving average is $28.65. Brookfield Infrastructure Partners has a 12 month low of $21.03 and a 12 month high of $37.32. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.68 and a quick ratio of 0.64. The stock has a market capitalization of $13.12 billion, a P/E ratio of 91.74 and a beta of 0.99.

Brookfield Infrastructure Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.62 dividend on an annualized basis and a yield of 5.70%. Brookfield Infrastructure Partners’s payout ratio is currently 522.58%.

Institutional Trading of Brookfield Infrastructure Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in shares of Brookfield Infrastructure Partners by 8.5% during the first quarter. Principal Financial Group Inc. now owns 21,652,827 shares of the utilities provider’s stock worth $675,785,000 after acquiring an additional 1,701,587 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of 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 worth $604,894,000 after acquiring an additional 1,678,140 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Brookfield Infrastructure Partners by 8.3% during the third quarter. The Manufacturers Life Insurance Company now owns 17,876,978 shares of the utilities provider’s stock worth $525,947,000 after acquiring an additional 1,362,482 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Brookfield Infrastructure Partners by 28.2% during the fourth quarter. Mackenzie Financial Corp now owns 7,118,909 shares of the utilities provider’s stock worth $224,468,000 after acquiring an additional 1,565,246 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Brookfield Infrastructure Partners by 20.0% during the fourth quarter. CIBC Asset Management Inc now owns 6,681,918 shares of the utilities provider’s stock worth $211,259,000 after acquiring an additional 1,112,217 shares during the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

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.