Why Brookfield Infrastructure Partners Stock Rebounded and Jumped 15% in July
Brookfield Infrastructure Partners (NYSE: BIP) stock may have shed nearly 13% value in the first six months of 2024, but it took just one month to reverse all of those losses and some. Units of the master limited partnership rallied 15.1% in July, according to data provided by S&P Global Market Intelligence. Shares of Brookfield Infrastructure Corporation (NYSE: BIPC) gained 15.6% last month.
The infrastructure stock appeared ripe for bottoming after underperforming the S 500 in recent months, especially given its consistently strong operational performance. Investors saw an opportunity to buy shares in July ahead of Brookfield Infrastructure's second-quarter earnings, and the company didn't disappoint.
Brookfield Infrastructure continues to grow its funds from operations (FFO) steadily. After clocking 11% FFO growth in the first quarter, the infrastructure giant reported 10% year-over-year FFO growth for Q2 on Aug. 1. Its 2023 acquisition of the world's largest intermodal operator, Triton International, was a key contributor to second-quarter FFO growth. Brookfield Infrastructure acquires and operates assets across utilities, transportation, midstream energy, and data infrastructure.
Source Fool.com
Brookfield Corp. Aktie
Mit 16 Buy-Einschätzungen und nur 1 Sell-Einschätzungen steht die Community der Aktie positiv gegenüber.
Ein negatives Potenzial von -1.18% für Brookfield Corp., trotz eines niedrigeren Kursziels von 42 € als 42.5 €.
