Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) – Investment analysts at National Bank Financial lowered their Q3 2019 earnings per share (EPS) estimates for shares of Brookfield Infrastructure Partners in a research report issued to clients and investors on Monday, August 5th, according to Zacks Investment Research. National Bank Financial analyst R. Merer now anticipates that the utilities provider will post earnings per share of $0.84 for the quarter, down from their previous estimate of $0.85. National Bank Financial currently has a “Outperform” rating and a $50.00 price target on the stock. National Bank Financial also issued estimates for Brookfield Infrastructure Partners’ Q4 2019 earnings at $0.89 EPS, FY2019 earnings at $3.46 EPS and FY2020 earnings at $3.96 EPS.
Several other research firms have also commented on BIP. Bank of America lifted their price target on Brookfield Infrastructure Partners from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Industrial Alliance Securities boosted their target price on Brookfield Infrastructure Partners from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Credit Suisse Group began coverage on Brookfield Infrastructure Partners in a research report on Thursday, July 18th. They set a “neutral” rating and a $47.50 target price for the company. Zacks Investment Research lowered Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, TD Securities boosted their target price on Brookfield Infrastructure Partners from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $47.41.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.02. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.01 billion. Brookfield Infrastructure Partners had a return on equity of 1.40% and a net margin of 3.32%. The firm’s revenue was up 61.4% on a year-over-year basis. During the same quarter last year, the business posted $0.75 earnings per share.
The firm also recently announced a dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be given a dividend of $0.502 per share. The ex-dividend date of this dividend is Thursday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 340.68%.
Several large investors have recently made changes to their positions in BIP. Gradient Investments LLC boosted its holdings in shares of Brookfield Infrastructure Partners by 40.0% in the second quarter. Gradient Investments LLC now owns 1,050 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 300 shares during the period. Coastal Investment Advisors Inc. boosted its holdings in shares of Brookfield Infrastructure Partners by 266.7% in the second quarter. Coastal Investment Advisors Inc. now owns 1,100 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 800 shares during the period. Sandy Spring Bank purchased a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at approximately $48,000. Ellis Investment Partners LLC purchased a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at approximately $51,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at approximately $53,000. Institutional investors and hedge funds own 48.23% of the company’s stock.
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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