Brookfield Infrastructure Q4 Revenue Rises 28%, Dividend Raised

Brookfield Infrastructure Partners (TSE: BIP.UN) reported 2021 fourth-quarter and year-end financial results today.

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Brookfield Infrastructure Partners owns and operates a global network of infrastructure companies in utility, transportation, energy, and communications infrastructure.

Revenue & Earnings

The company posted net income attributable to the partnership of $138 million in Q4 2021, down from $331 million in Q4 2020.

On a per-unit basis, Brookfield Partners posted net income of $0.14, down from $0.58 in the prior-year quarter.

The operator of utility, transportation, and energy assets recorded revenues of $3.25 billion during the three-month period, up from $2.53 billion a year ago.

For the year, the company reported earnings of $1.09 billion ($1.74 per unit), up from $395 million in 2020. Revenue was reported at $11.54 billion, up from $8.89 billion.

Funds from operations (FFO) of $1.7 billion for the year reflect a 19% increase over 2020.

The Board of Directors has declared a quarterly dividend of $0.54 per unit, payable March 31, 2022, to unitholders of record at the close of business on February 28, 2022. This distribution represents an increase of 6% compared to the previous year.

CEO Commentary

Brookfield Infrastructure CEO Sam Pollock said, “2021 was a remarkable year for Brookfield Infrastructure, highlighted by our strong organic growth, capital recycling accomplishments, and the deployment of significant capital into new investments and other growth initiatives. We begin this year with a strong liquidity position and half of our 2022 deployment target already secured.”

Wall Street’s Take

On November 18, BMO Capital analyst Devin Dodge kept a Buy rating on BIP.UN, with a price target of $65.00 (C$82.44). This implies 8% upside potential.

Overall, the consensus on the Street is that BIP.UN is a Strong Buy based on three Buys and one Hold.

The average Brookfield Infrastructure price target of C$81.40 implies an upside potential of about 6.7% from current levels.

TipRanks’ Smart Score

BIP.UN scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock returns are likely to beat the overall market.

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