Brookfield Infrastructure Partners (NYSE:BIP) Releases Quarterly Earnings Results, Misses Expectations By $0.74 EPS
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) posted its quarterly earnings data on Thursday. The utilities provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.74), Fidelity Earnings reports. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.08 billion. Brookfield Infrastructure Partners had a net margin of 3.32% and a return on equity of 1.40%. Brookfield Infrastructure Partners’s revenue for the quarter was up 42.6% compared to the same quarter last year.
Shares of NYSE BIP opened at $51.14 on Friday. The business has a fifty day simple moving average of $49.01 and a 200 day simple moving average of $45.01. The firm has a market capitalization of $14.01 billion, a price-to-earnings ratio of 86.68, a PEG ratio of 1.47 and a beta of 0.81. Brookfield Infrastructure Partners has a one year low of $32.26 and a one year high of $51.19.
A number of brokerages recently commented on BIP. Bank of America upped their target price on Brookfield Infrastructure Partners from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Zacks Investment Research lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. TD Securities upped their target price on Brookfield Infrastructure Partners from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Friday. National Bank Financial restated an “outperform” rating and issued a $50.00 target price on shares of Brookfield Infrastructure Partners in a research note on Thursday, July 18th. Finally, Barclays upped their target price on Brookfield Infrastructure Partners from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $49.91.
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.
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