National Bank Financial Analysts Increase Earnings Estimates for Brookfield Infrastructure Partners LP (NYSE:BIP)

Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) – Analysts at National Bank Financial boosted their FY2018 EPS estimates for Brookfield Infrastructure Partners in a note issued to investors on Thursday. National Bank Financial analyst R. Merer now anticipates that the utilities provider will post earnings per share of $3.92 for the year, up from their previous forecast of $3.78.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.86. The firm had revenue of $934 million for the quarter, compared to analyst estimates of $768 million. Brookfield Infrastructure Partners had a net margin of 9.36% and a return on equity of 2.70%.

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A number of other analysts have also recently weighed in on BIP. Barclays PLC restated an “equal weight” rating and issued a $42.00 price objective (up from $37.00) on shares of Brookfield Infrastructure Partners in a research note on Sunday, April 23rd. Royal Bank Of Canada boosted their price objective on shares of Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, May 5th. Scotiabank boosted their price objective on shares of Brookfield Infrastructure Partners from $39.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, May 5th. Zacks Investment Research cut shares of Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Finally, Raymond James Financial, Inc. boosted their price objective on shares of Brookfield Infrastructure Partners from $43.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, June 5th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $45.72.

Brookfield Infrastructure Partners (NYSE:BIP) traded up 0.28% during midday trading on Monday, reaching $43.21. 593,123 shares of the company were exchanged. The firm’s 50-day moving average is $40.54 and its 200-day moving average is $38.55. Brookfield Infrastructure Partners has a one year low of $30.76 and a one year high of $43.28. The firm has a market cap of $11.22 billion, a P/E ratio of 47.38 and a beta of 1.11.

A number of institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new position in Brookfield Infrastructure Partners during the fourth quarter valued at approximately $1,533,000. Creative Planning boosted its position in Brookfield Infrastructure Partners by 53.2% in the first quarter. Creative Planning now owns 28,078 shares of the utilities provider’s stock valued at $1,086,000 after buying an additional 9,754 shares during the last quarter. Nexus Investment Management Inc. boosted its position in Brookfield Infrastructure Partners by 2.2% in the first quarter. Nexus Investment Management Inc. now owns 671,674 shares of the utilities provider’s stock valued at $25,937,000 after buying an additional 14,475 shares during the last quarter. Bank of Montreal Can boosted its position in Brookfield Infrastructure Partners by 26.7% in the first quarter. Bank of Montreal Can now owns 13,975,593 shares of the utilities provider’s stock valued at $540,437,000 after buying an additional 2,947,311 shares during the last quarter. Finally, Schneider Downs Wealth Management Advisors LP bought a new position in Brookfield Infrastructure Partners during the first quarter valued at approximately $377,000. Hedge funds and other institutional investors own 34.06% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 4.04%. The ex-dividend date is Tuesday, August 29th. Brookfield Infrastructure Partners’s payout ratio is currently 370.22%.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).

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