Brookfield Infrastructure Partners (NYSE:BIP) Releases Quarterly Earnings Results, Misses Expectations By $0.42 EPS

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) released its earnings results on Friday. The utilities provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.42), Zacks reports. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The company had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the firm posted $0.76 earnings per share. Brookfield Infrastructure Partners’s revenue for the quarter was up 13.4% on a year-over-year basis.

Brookfield Infrastructure Partners Price Performance

NYSE BIP traded up $0.85 during trading on Friday, hitting $35.19. 586,853 shares of the stock traded hands, compared to its average volume of 524,224. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.66. Brookfield Infrastructure Partners has a 12-month low of $25.72 and a 12-month high of $35.64. The firm has a 50-day simple moving average of $32.98 and a 200-day simple moving average of $32.30. The company has a market capitalization of $16.31 billion, a P/E ratio of 703.86 and a beta of 1.14.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.72 dividend on an annualized basis and a yield of 4.9%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 3,440.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BIP shares. National Bank Financial raised Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Jefferies Financial Group set a $37.00 price target on shares of Brookfield Infrastructure Partners and gave the company a “hold” rating in a report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a research note on Wednesday, October 8th. National Bankshares set a $35.00 price objective on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Friday, September 26th. Finally, Wall Street Zen raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Brookfield Infrastructure Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.43.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BIP. Tower Research Capital LLC TRC increased its position in Brookfield Infrastructure Partners by 11,333.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,430 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 3,400 shares during the last quarter. State of Wyoming increased its holdings in shares of Brookfield Infrastructure Partners by 12.6% in the 2nd quarter. State of Wyoming now owns 3,649 shares of the utilities provider’s stock worth $122,000 after buying an additional 407 shares during the last quarter. Glenview Trust co purchased a new stake in shares of Brookfield Infrastructure Partners during the 2nd quarter valued at about $201,000. Visionary Wealth Advisors lifted its holdings in shares of Brookfield Infrastructure Partners by 9.6% in the 2nd quarter. Visionary Wealth Advisors now owns 11,371 shares of the utilities provider’s stock valued at $381,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. grew its position in Brookfield Infrastructure Partners by 52.7% in the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 17,826 shares of the utilities provider’s stock worth $597,000 after acquiring an additional 6,150 shares in the last quarter. 57.92% of the stock is owned by hedge funds and other 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.