Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) – Stock analysts at Raymond James increased their Q3 2021 EPS estimates for Brookfield Infrastructure Partners in a research report issued on Wednesday, September 22nd. Raymond James analyst F. Bastien now expects that the utilities provider will earn $0.91 per share for the quarter, up from their previous estimate of $0.82. Raymond James currently has a “Outperform” rating and a $65.00 price objective on the stock. Raymond James also issued estimates for Brookfield Infrastructure Partners’ FY2021 earnings at $3.60 EPS, Q1 2022 earnings at $1.06 EPS, Q2 2022 earnings at $1.02 EPS and Q3 2022 earnings at $1.08 EPS.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its earnings results on Thursday, August 5th. The utilities provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.22). The firm had revenue of $2.66 billion during the quarter. Brookfield Infrastructure Partners had a net margin of 7.12% and a return on equity of 3.55%.
Shares of BIP stock opened at $55.95 on Thursday. The stock has a market cap of $16.52 billion, a price-to-earnings ratio of 41.75 and a beta of 0.77. The stock has a 50-day moving average of $55.71 and a 200-day moving average of $54.69. Brookfield Infrastructure Partners has a 1-year low of $42.29 and a 1-year high of $58.58.
A number of hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its stake in Brookfield Infrastructure Partners by 15.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,395 shares of the utilities provider’s stock valued at $287,000 after purchasing an additional 733 shares in the last quarter. Keybank National Association OH increased its position in shares of Brookfield Infrastructure Partners by 1.9% during the first quarter. Keybank National Association OH now owns 25,894 shares of the utilities provider’s stock worth $1,379,000 after acquiring an additional 481 shares in the last quarter. The PNC Financial Services Group Inc. raised its holdings in shares of Brookfield Infrastructure Partners by 1.3% in the 1st quarter. The PNC Financial Services Group Inc. now owns 42,439 shares of the utilities provider’s stock worth $2,260,000 after acquiring an additional 540 shares during the last quarter. D.A. Davidson & CO. bought a new position in Brookfield Infrastructure Partners in the 1st quarter valued at about $1,625,000. Finally, TBH Global Asset Management LLC acquired a new position in Brookfield Infrastructure Partners during the 1st quarter valued at about $277,000. 52.54% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Investors of record on Tuesday, August 31st will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Monday, August 30th. Brookfield Infrastructure Partners’s payout ratio is 582.86%.
About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners LP is an infrastructure company, which engages in the management of diversified portfolio of infrastructure assets that will generate sustainable and growing distributions over the long-term for unit holders. It operates through the following segments: Utilities, Transport, Energy, Data Infrastructure, and Corporate.
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