Brookfield Infrastructure Partners LP (NYSE:BIP) Declares $0.43 Quarterly Dividend

Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) announced a quarterly dividend on Friday, November 7th. Investors of record on Friday, November 28th will be given a dividend of 0.43 per share by the utilities provider on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Friday, November 28th.

Brookfield Infrastructure Partners has decreased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 18 consecutive years. Brookfield Infrastructure Partners has a dividend payout ratio of 117.8% 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 $3.80 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 45.3%.

Brookfield Infrastructure Partners Trading Up 2.5%

NYSE:BIP opened at $35.19 on Friday. Brookfield Infrastructure Partners has a 1 year low of $25.72 and a 1 year high of $35.64. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88. The stock has a fifty day moving average price of $32.98 and a two-hundred day moving average price of $32.30. The stock has a market capitalization of $16.31 billion, a price-to-earnings ratio of 703.86 and a beta of 1.14.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.42). The company had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. As a group, sell-side analysts anticipate that Brookfield Infrastructure Partners will post 3.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

A number of institutional investors have recently modified their holdings of BIP. Wealthcare Advisory Partners LLC grew its stake in Brookfield Infrastructure Partners by 13.1% in the third quarter. Wealthcare Advisory Partners LLC now owns 25,871 shares of the utilities provider’s stock worth $851,000 after purchasing an additional 3,004 shares in the last quarter. Credit Industriel ET Commercial grew its holdings in shares of Brookfield Infrastructure Partners by 582.7% during the third quarter. Credit Industriel ET Commercial now owns 174,940 shares of the utilities provider’s stock valued at $5,754,000 after purchasing an additional 149,315 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Brookfield Infrastructure Partners by 54.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 505,183 shares of the utilities provider’s stock worth $16,615,000 after purchasing an additional 178,534 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 0.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 67,771 shares of the utilities provider’s stock worth $2,229,000 after purchasing an additional 400 shares during the last quarter. Finally, Wulff Hansen & CO. boosted its position in Brookfield Infrastructure Partners by 5.2% during the 3rd quarter. Wulff Hansen & CO. now owns 51,877 shares of the utilities provider’s stock valued at $1,706,000 after purchasing an additional 2,550 shares during the period. Institutional investors and hedge funds own 57.92% of the company’s stock.

About Brookfield Infrastructure Partners

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.