Brookfield Infrastructure Partners L.P. (NYSE:BIP) Declares Quarterly Dividend of $0.41

Brookfield Infrastructure Partners L.P. (NYSE:BIP - Get Free Report) TSE: BIP.UN declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Friday, May 31st will be paid a dividend of 0.405 per share by the utilities provider on Friday, June 28th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date is Friday, May 31st.

Brookfield Infrastructure Partners has raised its dividend payment by an average of 4.8% annually over the last three years and has increased its dividend every year for the last 17 years. Brookfield Infrastructure Partners has a dividend payout ratio of 137.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Brookfield Infrastructure Partners to earn $3.59 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 45.1%.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE BIP traded up $0.91 during midday trading on Thursday, reaching $28.44. 476,256 shares of the company traded hands, compared to its average volume of 515,905. The firm has a market cap of $13.12 billion, a PE ratio of 203.16 and a beta of 0.99. The stock's 50-day simple moving average is $28.58 and its 200-day simple moving average is $28.65. Brookfield Infrastructure Partners has a 12 month low of $21.03 and a 12 month high of $37.32. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.64 and a current ratio of 0.68.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last released its quarterly earnings results on Thursday, February 1st. The utilities provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.99). Brookfield Infrastructure Partners had a net margin of 1.34% and a return on equity of 0.79%. The business had revenue of $4.97 billion during the quarter. As a group, equities analysts anticipate that Brookfield Infrastructure Partners will post 3.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BIP shares. Raymond James lifted their price objective on Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the stock a "strong-buy" rating in a research report on Friday, February 2nd. BMO Capital Markets lowered their price objective on Brookfield Infrastructure Partners from $40.00 to $36.00 and set an "outperform" rating for the company in a research report on Thursday. TD Securities decreased their target price on Brookfield Infrastructure Partners from $47.00 to $46.00 and set a "buy" rating for the company in a research report on Friday, February 2nd. National Bankshares lowered Brookfield Infrastructure Partners from an "outperform" rating to a "sector perform" rating and set a $32.00 target price for the company. in a research report on Tuesday, January 30th. Finally, Jefferies Financial Group decreased their target price on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $38.20.

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.