Brookfield Infrastructure (NYSE:BIPC) Hits New 1-Year High - Time to Buy?

Key Points

• Berkfield Infrastructure Co. (NYSE:BIPC) reached a new 52-week high of $45.29, with a current price of $45.16, and a trading volume of 432,344 shares.
• Market analysts have mixed ratings for BIPC, with Weiss Ratings maintaining a "sell" rating while Morgan Stanley increased its target price to $46 and rated the stock as "equal weight."
• The company declared a quarterly dividend of $0.43 per share, equating to an annualized dividend of $1.72, which reflects a high dividend payout ratio of 119.44%.

Brookfield Infrastructure Co. (NYSE:BIPC - Get Free Report)'s share price hit a new 52-week high on Friday . The company traded as high as $45.29 and last traded at $45.16, with a volume of 432344 shares. The stock had previously closed at $43.92.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BIPC. Weiss Ratings reissued a "sell (d)" rating on shares of Brookfield Infrastructure in a research note on Saturday, September 27th. Wall Street Zen raised Brookfield Infrastructure from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. Finally, Morgan Stanley increased their target price on Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $46.00.

Brookfield Infrastructure Stock Performance

The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 31.38 and a beta of 1.45. The firm has a fifty day moving average of $40.50 and a 200-day moving average of $39.54.

Brookfield Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a dividend of $0.43 per share. The ex-dividend date was Friday, August 29th. This represents a $1.72 annualized dividend and a dividend yield of 3.8%. Brookfield Infrastructure's dividend payout ratio (DPR) is currently 119.44%.

Institutional Trading of Brookfield Infrastructure

Large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. grew its stake in shares of Brookfield Infrastructure by 338.3% during the first quarter. Geneos Wealth Management Inc. now owns 710 shares of the company's stock valued at $26,000 after acquiring an additional 548 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Brookfield Infrastructure in the first quarter worth about $29,000. First PREMIER Bank acquired a new position in Brookfield Infrastructure in the first quarter worth about $30,000. Farther Finance Advisors LLC grew its stake in Brookfield Infrastructure by 1,307.5% in the second quarter. Farther Finance Advisors LLC now owns 746 shares of the company's stock worth $31,000 after purchasing an additional 693 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in Brookfield Infrastructure in the first quarter worth about $34,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Infrastructure

Brookfield Infrastructure Corporation, together with its subsidiaries, owns and operates regulated natural gas transmission systems in Brazil. The company also engages in the regulated gas and electricity distribution operations in the United Kingdom; and electricity transmission and distribution, as well as gas distribution in Australia.

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