Q3 2024 Earnings Forecast for Brookfield Infrastructure Partners L.P. Issued By Raymond James (NYSE:BIP)

Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN - Research analysts at Raymond James boosted their Q3 2024 earnings per share estimates for shares of Brookfield Infrastructure Partners in a report issued on Wednesday, May 1st. Raymond James analyst F. Bastien now forecasts that the utilities provider will post earnings per share of $0.83 for the quarter, up from their previous forecast of $0.82. Raymond James currently has a "Strong-Buy" rating and a $44.00 target price on the stock. The consensus estimate for Brookfield Infrastructure Partners' current full-year earnings is $3.30 per share. Raymond James also issued estimates for Brookfield Infrastructure Partners' Q4 2024 earnings at $0.86 EPS and Q2 2025 earnings at $0.84 EPS.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last announced its quarterly earnings data on Thursday, February 1st. The utilities provider reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.79 by ($0.99). Brookfield Infrastructure Partners had a return on equity of 1.24% and a net margin of 2.05%. The company had revenue of $4.97 billion during the quarter.

Other equities analysts have also issued reports about the company. StockNews.com lowered Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a report on Friday. National Bankshares lowered Brookfield Infrastructure Partners from an "outperform" rating to a "sector perform" rating and set a $32.00 price objective for the company. in a report on Tuesday, January 30th. BMO Capital Markets dropped their price objective on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an "outperform" rating on the stock in a report on Thursday. Jefferies Financial Group reduced their target price on shares of Brookfield Infrastructure Partners from $37.00 to $34.00 and set a "buy" rating for the company in a research note on Wednesday, April 17th. Finally, National Bank Financial cut shares of Brookfield Infrastructure Partners from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield Infrastructure Partners has an average rating of "Moderate Buy" and an average price target of $38.20.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP stock traded up $0.84 during trading hours on Friday, hitting $29.28. 454,688 shares of the company were exchanged, compared to its average volume of 515,408. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of 94.45 and a beta of 0.99. The firm has a fifty day simple moving average of $28.56 and a 200 day simple moving average of $28.68. Brookfield Infrastructure Partners has a 52-week low of $21.03 and a 52-week high of $37.32.

Brookfield Infrastructure Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.62 annualized dividend and a dividend yield of 5.53%. Brookfield Infrastructure Partners's payout ratio is currently 522.58%.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

Large investors have recently added to or reduced their stakes in the business. Raymond James & Associates raised its holdings in shares of Brookfield Infrastructure Partners by 9.3% in the 3rd quarter. Raymond James & Associates now owns 538,703 shares of the utilities provider's stock valued at $15,838,000 after acquiring an additional 45,880 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Brookfield Infrastructure Partners by 20.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 56,487 shares of the utilities provider's stock worth $1,661,000 after purchasing an additional 9,592 shares during the last quarter. Independent Advisor Alliance purchased a new stake in Brookfield Infrastructure Partners in the third quarter valued at approximately $206,000. Mackenzie Financial Corp lifted its position in Brookfield Infrastructure Partners by 12.3% during the third quarter. Mackenzie Financial Corp now owns 5,553,663 shares of the utilities provider's stock valued at $163,278,000 after purchasing an additional 607,302 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in Brookfield Infrastructure Partners in the 3rd quarter worth approximately $219,000. Institutional investors own 57.92% of the company's stock.

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.