Brookfield Infrastructure (NYSE:BIPC) Reaches New 12-Month High - Here's Why

Key Points

• Brookfield Infrastructure (NYSE:BIPC) reached a new 52-week high of $47.16 during trading, closing at $46.98 with a trading volume of 625,397 shares.
• Analysts have mixed views on BIPC, with Morgan Stanley raising its price target to $46.00 while Weiss Ratings maintained a "sell" rating, reflecting a consensus rating of "Reduce."
• The company declared a quarterly dividend of $0.43, yielding 3.7%, with a dividend payout ratio of 119.44%, indicating it is currently paying out more than its earnings.

Brookfield Infrastructure Co. (NYSE:BIPC - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $47.16 and last traded at $46.98, with a volume of 625397 shares traded. The stock had previously closed at $45.84.

Analyst Upgrades and Downgrades

BIPC has been the topic of several research reports. Morgan Stanley upped their price target on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 26th. Wall Street Zen raised Brookfield Infrastructure from a "sell" rating to a "hold" rating in a report on Friday, September 26th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Brookfield Infrastructure in a report on Tuesday. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $46.00.

Brookfield Infrastructure Trading Up 2.5%

The company has a market capitalization of $5.59 billion, a P/E ratio of 32.63 and a beta of 1.45. The business has a 50 day moving average price of $41.04 and a 200 day moving average price of $39.80.

Brookfield Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Infrastructure's dividend payout ratio is presently 119.44%.

Institutional Investors Weigh In On Brookfield Infrastructure

A number of large investors have recently added to or reduced their stakes in BIPC. Geneos Wealth Management Inc. increased its position in Brookfield Infrastructure by 338.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 710 shares of the company's stock worth $26,000 after buying an additional 548 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Brookfield Infrastructure during the first quarter worth $29,000. First PREMIER Bank acquired a new position in shares of Brookfield Infrastructure during the first quarter worth $30,000. Farther Finance Advisors LLC boosted its stake in shares of Brookfield Infrastructure by 1,307.5% during the second quarter. Farther Finance Advisors LLC now owns 746 shares of the company's stock valued at $31,000 after purchasing an additional 693 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new stake in shares of Brookfield Infrastructure during the first quarter valued at about $34,000. Institutional investors own 70.38% of the company's stock.

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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