BIPC - Here's Why Brookfield Infrastructure Partners Tumbled Nearly 13% in the 1st Half of 2024
2024-07-15 11:07:00 ET
Units of Brookfield Infrastructure Partners (NYSE: BIP) declined by 12.9% in the first half of 2024, according to data from S&P Global Market Intelligence . That was a steeper decline than its corporate twin, Brookfield Infrastructure Corporation (NYSE: BIPC) , which fell only 4.6% in the first half. Both entities significantly underperformed the S&P 500 , which rallied 14.5% to start 2024.
Here's a look at what weighed on the infrastructure stock and whether it can rebound in the second half.
Brookfield Infrastructure has continued to deliver strong operating results. The company reported its financial results for 2023 in early February. Its funds from operations (FFO) rose 10% last year, driven by 8% organic growth and the benefit of deploying over $2 billion into new investments. At the time, CEO Sam Pollock predicted, "We believe 2024 will be an even better year, and we are already off to a strong start on our capital recycling and deployment initiatives."
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Here's Why Brookfield Infrastructure Partners Tumbled Nearly 13% in the 1st Half of 2024