Down 25%, This Magnificent Dividend Stock Is a Screaming Buy
Brookfield Infrastructure (NYSE: BIPC)(NYSE: BIP) has lost 25% of its value over the past year. That's a head-scratching performance for a company that's operating extremely well. The company grew its funds from operations (FFO) by 10% last year (and 9% on a per-share basis). That gave it the fuel to increase its dividend by another 6%. That, in turn, extended its magnificent dividend growth streak to 15 straight years.
With its earnings rising and its share price falling, Brookfield now trades at a much cheaper price (and higher dividend yield of 4.3%). That makes it look like a screaming buy, especially considering that it expects 2024 to be an even stronger year.
Brookfield Infrastructure generated $2.3 billion, or $2.95 per share, of FFO last year. With shares recently trading at around $36 apiece, Brookfield Infrastructure sells for around 12 times its earnings. That's dirt cheap compared to the broader market. The S 500 index currently trades 22 times earnings, while the Nasdaq 100 trades at more than 30 times earnings.
Source Fool.com
Brookfield Corp. Stock
We see a rather positive sentiment for Brookfield Corp. with 14 Buy predictions and 1 Sell predictions.
As a result the target price of 42 € shows a slightly positive potential of 2.19% compared to the current price of 41.1 € for Brookfield Corp..
