Brokerages expect Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) to announce $0.83 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Brookfield Infrastructure Partners’ earnings. The lowest EPS estimate is $0.82 and the highest is $0.84. Brookfield Infrastructure Partners reported earnings per share of $0.21 in the same quarter last year, which would suggest a positive year-over-year growth rate of 295.2%. The company is expected to issue its next earnings report on Thursday, August 1st.
On average, analysts expect that Brookfield Infrastructure Partners will report full-year earnings of $3.49 per share for the current year, with EPS estimates ranging from $3.45 to $3.55. For the next fiscal year, analysts anticipate that the business will report earnings of $3.90 per share, with EPS estimates ranging from $3.75 to $4.02. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Brookfield Infrastructure Partners.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Friday, May 3rd. The utilities provider reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.04. Brookfield Infrastructure Partners had a return on equity of 1.71% and a net margin of 4.24%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $954.88 million. The firm’s revenue was up 57.3% compared to the same quarter last year.
Several brokerages have commented on BIP. Zacks Investment Research raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Raymond James reaffirmed an “outperform” rating and issued a $49.00 target price on shares of Brookfield Infrastructure Partners in a research note on Thursday, March 21st. Finally, National Bank Financial upped their target price on shares of Brookfield Infrastructure Partners from $45.50 to $47.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Brookfield Infrastructure Partners presently has a consensus rating of “Buy” and a consensus price target of $45.69.
BIP traded up $0.11 on Wednesday, hitting $42.14. 43,940 shares of the company were exchanged, compared to its average volume of 231,027. Brookfield Infrastructure Partners has a twelve month low of $32.26 and a twelve month high of $42.54. The stock has a market capitalization of $14.39 billion, a price-to-earnings ratio of 71.46, a PEG ratio of 1.24 and a beta of 1.02. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.47 and a quick ratio of 0.47.
The business also recently disclosed a dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a dividend of $0.502 per share. The ex-dividend date of this dividend is Thursday, May 30th. Brookfield Infrastructure Partners’s dividend payout ratio is 340.68%.
Hedge funds have recently modified their holdings of the company. CIBC World Markets Inc. grew its position in Brookfield Infrastructure Partners by 89.3% in the first quarter. CIBC World Markets Inc. now owns 3,943,658 shares of the utilities provider’s stock valued at $165,121,000 after purchasing an additional 1,860,702 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Brookfield Infrastructure Partners by 57.6% during the 1st quarter. CIBC Asset Management Inc now owns 2,631,973 shares of the utilities provider’s stock worth $109,918,000 after buying an additional 962,098 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Brookfield Infrastructure Partners by 17.2% during the 1st quarter. Toronto Dominion Bank now owns 5,535,550 shares of the utilities provider’s stock worth $231,162,000 after buying an additional 814,234 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Brookfield Infrastructure Partners by 2.6% during the 4th quarter. Bank of Montreal Can now owns 16,951,223 shares of the utilities provider’s stock worth $585,326,000 after buying an additional 424,158 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield Infrastructure Partners by 9.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 4,603,499 shares of the utilities provider’s stock worth $192,749,000 after buying an additional 413,425 shares during the last quarter. 38.63% of the stock is owned by institutional investors.
About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.
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