Brookfield Infrastructure Partners (NYSE:BIP) Hits New 1-Year High Following Dividend Announcement

Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) shares reached a new 52-week high during trading on Monday after the company announced a dividend. The company traded as high as $35.85 and last traded at $35.9750, with a volume of 43290 shares. The stock had previously closed at $35.22.

The newly announced dividend which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 256.72%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank Of Canada set a $40.00 target price on Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Wednesday, August 27th. National Bank Financial upgraded Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a report on Wednesday, October 8th. Wall Street Zen upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, National Bankshares set a $35.00 price target on Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.43.

Brookfield Infrastructure Partners Price Performance

The business has a 50-day simple moving average of $32.98 and a two-hundred day simple moving average of $32.35. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 716.78 and a beta of 1.14.

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

Institutional Investors Weigh In On Brookfield Infrastructure Partners

Several large investors have recently modified their holdings of the stock. SouthState Corp acquired a new stake in shares of Brookfield Infrastructure Partners during the first quarter worth $37,000. Westfuller Advisors LLC acquired a new stake in shares of Brookfield Infrastructure Partners during the third quarter valued at approximately $44,000. City Holding Co. acquired a new position in Brookfield Infrastructure Partners in the 3rd quarter worth approximately $59,000. Caldwell Trust Co purchased a new position in Brookfield Infrastructure Partners during the 2nd quarter worth approximately $66,000. Finally, AdvisorNet Financial Inc lifted its stake in Brookfield Infrastructure Partners by 17.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 2,160 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 325 shares in the last quarter. 57.92% of the stock is owned by institutional investors.

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.