Brookfield Infrastructure Partners L.P. (NYSE:BIP) Announces $0.41 Quarterly Dividend

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.405 per share by the utilities provider on Tuesday, December 31st. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date is Friday, November 29th.

Brookfield Infrastructure Partners has raised its dividend by an average of 4.8% annually over the last three years and has raised its dividend annually for the last 17 consecutive years. Brookfield Infrastructure Partners has a dividend payout ratio of 289.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Brookfield Infrastructure Partners to earn $3.34 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 48.5%.

Brookfield Infrastructure Partners Trading Up 1.5 %

Shares of BIP stock opened at $35.35 on Thursday. The company has a market cap of $16.32 billion, a P/E ratio of -93.03 and a beta of 1.06. Brookfield Infrastructure Partners has a fifty-two week low of $24.84 and a fifty-two week high of $36.50. The stock has a 50 day simple moving average of $34.63 and a two-hundred day simple moving average of $31.72. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.77.

Wall Street Analysts Forecast Growth

BIP has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. Finally, TD Securities boosted their price target on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and a consensus price target of $40.20.

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.