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

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) announced a quarterly dividend on Wednesday, November 6th, Zacks reports. Investors of record on Friday, November 29th will be given a dividend of 0.405 per share by the utilities provider on Tuesday, December 31st. This represents a $1.62 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Friday, November 29th.

Brookfield Infrastructure Partners has increased its dividend by an average of 4.8% annually over the last three years and has raised its dividend annually for the last 17 consecutive years. Brookfield Infrastructure Partners has a payout ratio of 167.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Brookfield Infrastructure Partners to earn $3.40 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 47.6%.

Brookfield Infrastructure Partners Stock Performance

Brookfield Infrastructure Partners stock traded up $0.34 during trading hours on Thursday, hitting $35.01. The stock had a trading volume of 15,123 shares, compared to its average volume of 431,389. The company has a 50-day moving average of $33.90 and a two-hundred day moving average of $31.10. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.58. Brookfield Infrastructure Partners has a fifty-two week low of $24.84 and a fifty-two week high of $36.50. The company has a market cap of $16.24 billion, a PE ratio of -204.12 and a beta of 1.06.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Wednesday, November 6th. The utilities provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.98). The business had revenue of $5.27 billion for the quarter. Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. On average, equities research analysts anticipate that Brookfield Infrastructure Partners will post 3.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BIP. Jefferies Financial Group boosted their target price on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Sunday, September 15th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.40.

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.