Brookfield Infrastructure Partners (NYSE:BIP) Announces Quarterly Earnings Results, Misses Estimates By $0.42 EPS

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) issued its earnings results on Friday. The utilities provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.42), Zacks reports. The firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $2.05 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 EPS.

Brookfield Infrastructure Partners Stock Up 2.5%

Shares of NYSE:BIP opened at $35.19 on Friday. The company has a market cap of $16.31 billion, a price-to-earnings ratio of 703.86 and a beta of 1.14. Brookfield Infrastructure Partners has a 12 month low of $25.72 and a 12 month high of $35.64. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66. The company has a 50-day moving average price of $32.98 and a 200 day moving average price of $32.32.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.9%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 256.72%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BIP. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a research note on Wednesday, October 8th. Wall Street Zen raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday. Royal Bank Of Canada set a $40.00 price objective on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a report on Wednesday, August 27th. National Bankshares set a $35.00 target price on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a report on Friday, September 26th. Finally, National Bank Financial upgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.43.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Brookfield Infrastructure Partners by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,802,475 shares of the utilities provider’s stock worth $53,696,000 after purchasing an additional 195,276 shares during the period. Raymond James Financial Inc. increased its position in Brookfield Infrastructure Partners by 8.8% during the second quarter. Raymond James Financial Inc. now owns 724,975 shares of the utilities provider’s stock valued at $24,287,000 after acquiring an additional 58,511 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Brookfield Infrastructure Partners by 4.5% in the second quarter. Bank of America Corp DE now owns 340,147 shares of the utilities provider’s stock valued at $11,395,000 after acquiring an additional 14,734 shares during the period. HRT Financial LP lifted its holdings in shares of Brookfield Infrastructure Partners by 362.2% in the 2nd quarter. HRT Financial LP now owns 191,061 shares of the utilities provider’s stock worth $6,400,000 after acquiring an additional 149,725 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter worth about $2,595,000. 57.92% of the stock is owned by institutional investors.

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.