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

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 of this dividend 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 increased its dividend annually for the last 17 consecutive years. Brookfield Infrastructure Partners has a dividend payout ratio of 289.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Performance

Shares of BIP opened at $35.35 on Thursday. The stock has a 50 day moving average of $34.63 and a 200 day moving average of $31.72. The company has a market capitalization of $16.32 billion, a price-to-earnings ratio of -93.03 and a beta of 1.06. Brookfield Infrastructure Partners has a 12 month low of $24.84 and a 12 month high of $36.50. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72.

Analysts Set New Price Targets

Several research firms recently weighed in on BIP. TD Securities increased 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 report on Thursday, November 7th. Cibc World Mkts raised Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group lifted their price objective on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.20.

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.