Brookfield Infrastructure Partners L.P. (BIP) to Issue Quarterly Dividend of $0.41 on December 31st

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Friday, November 29th will be given 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 4.74%. 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 every year for the last 17 years. Brookfield Infrastructure Partners has a dividend payout ratio of 167.0% 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 $3.40 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 47.6%.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE:BIP opened at $34.21 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58. The company has a market cap of $15.80 billion, a price-to-earnings ratio of -201.22 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 50-day moving average price of $33.93 and a 200-day moving average price of $31.12.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. TD Securities lifted their price objective on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group boosted their price target 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. Finally, StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Sunday, September 15th. Three research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.