Raymond James Has Negative Outlook of BIP FY2024 Earnings

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) – Investment analysts at Raymond James lowered their FY2024 earnings per share (EPS) estimates for shares of Brookfield Infrastructure Partners in a research report issued to clients and investors on Thursday, November 7th. Raymond James analyst F. Bastien now anticipates that the utilities provider will post earnings per share of $3.07 for the year, down from their previous estimate of $3.15. The consensus estimate for Brookfield Infrastructure Partners’ current full-year earnings is $3.15 per share. Raymond James also issued estimates for Brookfield Infrastructure Partners’ Q4 2024 earnings at $0.77 EPS, Q1 2025 earnings at $0.87 EPS, Q3 2025 earnings at $0.84 EPS, Q4 2025 earnings at $0.85 EPS and FY2025 earnings at $3.40 EPS.

Other equities research analysts have also issued reports about the stock. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. TD Securities lifted their target price on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com cut Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Jefferies Financial Group raised their price objective on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Brookfield Infrastructure Partners has an average rating of “Moderate Buy” and a consensus price target of $40.20.

Brookfield Infrastructure Partners Stock Up 0.2 %

Shares of NYSE:BIP opened at $34.29 on Friday. The company has a 50 day moving average of $33.98 and a two-hundred day moving average of $31.19. Brookfield Infrastructure Partners has a 52-week low of $24.84 and a 52-week high of $36.50. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $15.83 billion, a price-to-earnings ratio of -90.24 and a beta of 1.06.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BIP. Capital World Investors boosted its holdings in Brookfield Infrastructure Partners by 8.9% in the first quarter. Capital World Investors now owns 38,365,956 shares of the utilities provider’s stock worth $1,198,095,000 after purchasing an additional 3,141,038 shares during the period. Wulff Hansen & CO. boosted its holdings in shares of Brookfield Infrastructure Partners by 2,562.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,615,448 shares of the utilities provider’s stock valued at $44,328,000 after buying an additional 1,554,782 shares during the period. Principal Financial Group Inc. grew its position in shares of Brookfield Infrastructure Partners by 7.1% during the 2nd quarter. Principal Financial Group Inc. now owns 23,193,050 shares of the utilities provider’s stock valued at $636,417,000 after buying an additional 1,540,223 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Brookfield Infrastructure Partners during the third quarter worth about $410,650,000. Finally, Intact Investment Management Inc. bought a new position in Brookfield Infrastructure Partners in the third quarter worth about $40,286,000. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Infrastructure Partners’s payout ratio is currently -426.32%.

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.