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

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) released its quarterly 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 company had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 EPS.

Brookfield Infrastructure Partners Trading Up 2.5%

Shares of Brookfield Infrastructure Partners stock traded up $0.85 on Friday, hitting $35.19. 586,853 shares of the company traded hands, compared to its average volume of 524,224. The stock’s 50 day moving average price is $32.98 and its 200-day moving average price is $32.30. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66. Brookfield Infrastructure Partners has a 52 week low of $25.72 and a 52 week high of $35.64. The company has a market cap of $16.31 billion, a PE ratio of 703.86 and a beta of 1.14.

Brookfield Infrastructure Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be given a dividend of $0.43 per share. 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 3,440.00%.

Wall Street Analyst Weigh In

BIP has been the topic of a number of analyst reports. 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. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a report on Wednesday, October 8th. Wall Street Zen raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada set a $40.00 target price on Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Wednesday, August 27th. Finally, National Bankshares set a $35.00 target price on Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research note on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.43.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BIP. Public Sector Pension Investment Board raised its position in Brookfield Infrastructure Partners by 0.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 44,700 shares of the utilities provider’s stock valued at $1,494,000 after purchasing an additional 400 shares in the last quarter. State of Wyoming grew its position in shares of Brookfield Infrastructure Partners by 12.6% during the 2nd quarter. State of Wyoming now owns 3,649 shares of the utilities provider’s stock worth $122,000 after buying an additional 407 shares in the last quarter. Visionary Wealth Advisors increased its stake in shares of Brookfield Infrastructure Partners by 9.6% during the second quarter. Visionary Wealth Advisors now owns 11,371 shares of the utilities provider’s stock valued at $381,000 after buying an additional 1,000 shares during the period. Focus Partners Wealth raised its holdings in shares of Brookfield Infrastructure Partners by 8.5% in the first quarter. Focus Partners Wealth now owns 24,734 shares of the utilities provider’s stock valued at $737,000 after acquiring an additional 1,931 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Brookfield Infrastructure Partners by 11,333.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,430 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 3,400 shares in the last quarter. 57.92% of the stock is currently owned by hedge funds and other 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.