Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) declared a quarterly dividend on Friday, November 2nd, Zacks reports. Shareholders of record on Friday, November 30th will be paid a dividend of 0.47 per share by the utilities provider on Monday, December 31st. This represents a $1.88 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Thursday, November 29th.
Brookfield Infrastructure Partners has raised its dividend by an average of 10.8% per year over the last three years and has raised its dividend every year for the last 8 years. Brookfield Infrastructure Partners has a payout ratio of 59.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Brookfield Infrastructure Partners to earn $3.53 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 53.3%.
Shares of Brookfield Infrastructure Partners stock opened at $39.89 on Friday. The company has a market capitalization of $10.95 billion, a price-to-earnings ratio of 26.42, a P/E/G ratio of 1.27 and a beta of 0.96. Brookfield Infrastructure Partners has a one year low of $36.84 and a one year high of $46.88.
A number of equities analysts have commented on the company. Credit Suisse Group set a $46.00 price target on Brookfield Infrastructure Partners and gave the stock a “buy” rating in a research note on Tuesday, November 13th. Royal Bank of Canada decreased their price target on Brookfield Infrastructure Partners from $49.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, November 5th. Raymond James reaffirmed an “outperform” rating and issued a $51.00 price target on shares of Brookfield Infrastructure Partners in a research note on Monday, November 5th. Wells Fargo & Co decreased their price target on Brookfield Infrastructure Partners from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Monday, November 5th. Finally, ValuEngine raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Friday, October 12th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Brookfield Infrastructure Partners has a consensus rating of “Buy” and a consensus target price of $46.27.
An institutional investor recently raised its position in Brookfield Infrastructure Partners stock. JPMorgan Chase & Co. raised its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 43.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,454 shares of the utilities provider’s stock after buying an additional 7,754 shares during the quarter. JPMorgan Chase & Co.’s holdings in Brookfield Infrastructure Partners were worth $1,015,000 at the end of the most recent quarter. Institutional investors and hedge funds own 47.62% of the company’s stock.
Brookfield Infrastructure Partners Company Profile
Brookfield Infrastructure Partners L.P. engages in utility, transport, energy, and communications infrastructure businesses. The company's Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 12,000 km of electricity transmission lines in North and South America; approximately 3.3 million electricity and natural gas connections in the United Kingdom and Colombia; and a port facility that exports metallurgical and thermal coal in Australia.
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