Brookfield Infrastructure (NYSE:BIPC) Partners L.P. - Unit (NYSE:BIP) continues to be covered by Wells Fargo with an Overweight recommendation, as reported on Friday. The latest one-year price target for the company averages at $44.25, suggesting a potential upside of 46.05% from its most recent closing price of $30.30.
The projected annual revenue for Brookfield Infrastructure Partners is approximately $11,997 million, marking a reduction of 24.11%. The projected annual non-GAAP EPS stands at 0.96. The company's shares currently yield a dividend of 5.05%, at a share price of $30.30.
On August 3, 2023, the company declared a regular quarterly dividend of $0.38 per share ($1.53 annualized). Shareholders registered as of August 31 will receive the dividend payment on September 29, 2023. This maintains the previous dividend rate of $0.38 per share.
Over the past five years, the average dividend yield for the company has been 4.36%, with a low of 2.51% and a high of 8.31%. The current yield stands at 0.89 standard deviations above this historical average.
The company's dividend payout ratio is calculated at 3.34, indicating that more than three times the company's income is paid out in dividends. Over the past three years, Brookfield has seen a slight increase in its dividend growth rate at 0.18%.
In terms of fund sentiment, there are now 358 funds or institutions holding positions in Brookfield Infrastructure Partners L.P - Unit, up by seven or 1.99% from last quarter. The average portfolio weight dedicated to BIP has also increased by 11.06% to 0.40%. The total shares owned by institutions have increased by 1.25% to 306,057K shares over the last three months. However, with a put/call ratio of 1.35, the outlook appears bearish.
Several major shareholders have adjusted their stakes in the company. The Royal Bank Of Canada (NYSE:RY) increased its ownership by 1.41%, now holding 43,553K shares or 9.49% of the company. Capital World Investors slightly decreased its stake by 0.05%, holding 35,237K shares or 7.68% of the company. AMECX - INCOME FUND OF AMERICA maintained its 29,787K shares or 6.49% stake in the company, while the Bank Of Montreal (NYSE:BMO) reduced its stake by 13.26%, now owning 28,884K shares or 6.30% of the company.
Brookfield Infrastructure Partners is a global infrastructure company with high-quality, long-life assets across utilities, transport, midstream and data infrastructure sectors in North and South America, Asia Pacific and Europe. The company focuses on assets generating stable and predictable cash flows from contracted and regulated revenues.
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