Brookfield Infrastructure Partners (NYSE:BIP) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) posted its quarterly earnings results on Friday. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.02, Briefing.com reports. Brookfield Infrastructure Partners had a net margin of 4.24% and a return on equity of 1.71%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $0.75 EPS. The firm’s revenue for the quarter was up 61.4% on a year-over-year basis.

Shares of Brookfield Infrastructure Partners stock opened at $44.42 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a 50-day simple moving average of $43.41. The company has a market cap of $12.39 billion, a price-to-earnings ratio of 75.29, a price-to-earnings-growth ratio of 1.02 and a beta of 0.90. Brookfield Infrastructure Partners has a 1 year low of $32.26 and a 1 year high of $44.74.

BIP has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. National Bank Financial reissued an “outperform” rating and set a $50.00 target price on shares of Brookfield Infrastructure Partners in a research note on Thursday, July 18th. Bank of America lifted their price target on shares of Brookfield Infrastructure Partners from $43.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday. Raymond James reiterated an “outperform” rating and set a $49.00 price objective on shares of Brookfield Infrastructure Partners in a report on Wednesday, July 3rd. Finally, Industrial Alliance Securities lifted their price objective on shares of Brookfield Infrastructure Partners from $47.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $46.77.

A number of large investors have recently added to or reduced their stakes in BIP. CIBC World Markets Inc. boosted its holdings in shares of Brookfield Infrastructure Partners by 89.3% during the 1st quarter. CIBC World Markets Inc. now owns 3,943,658 shares of the utilities provider’s stock valued at $165,121,000 after acquiring an additional 1,860,702 shares during the last quarter. CIBC Asset Management Inc increased its position in Brookfield Infrastructure Partners by 57.6% in the first quarter. CIBC Asset Management Inc now owns 2,631,973 shares of the utilities provider’s stock worth $109,918,000 after purchasing an additional 962,098 shares during the last quarter. Toronto Dominion Bank boosted its stake in Brookfield Infrastructure Partners by 17.2% during the first quarter. Toronto Dominion Bank now owns 5,535,550 shares of the utilities provider’s stock worth $231,162,000 after buying an additional 814,234 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Brookfield Infrastructure Partners by 9.9% during the first quarter. The Manufacturers Life Insurance Company now owns 4,603,499 shares of the utilities provider’s stock worth $192,749,000 after buying an additional 413,425 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Brookfield Infrastructure Partners during the first quarter worth $16,207,000. Institutional investors and hedge funds own 48.05% of the company’s stock.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The 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 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

Earnings History for Brookfield Infrastructure Partners (NYSE:BIP)

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