Brookfield Infrastructure Partners L.P. (BIP) To Go Ex-Dividend on November 29th

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 paid a dividend of 0.405 per share by the utilities provider on Tuesday, December 31st. This represents a $1.62 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend is Friday, November 29th.

Brookfield Infrastructure Partners has increased 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 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. 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 Stock Down 1.2 %

Shares of NYSE BIP opened at $34.83 on Wednesday. Brookfield Infrastructure Partners has a 52-week low of $24.84 and a 52-week high of $36.50. The firm has a fifty day moving average of $34.57 and a 200-day moving average of $31.70. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.77 and a quick ratio of 0.72.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. TD Securities boosted their price objective 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. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Jefferies Financial Group upped their price target on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock 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.