Wall Street Zen Downgrades Brookfield Infrastructure (NYSE:BIPC) to Hold

Key Points

• Brookfield Infrastructure's stock rating has been downgraded by Wall Street Zen from a "buy" to a "hold".
• The company's shares opened at $38.73 and have a market cap of $4.61 billion, with a price-to-earnings ratio of 26.90.
• Institutional investors currently own 70.38% of Brookfield Infrastructure, indicating significant confidence among large shareholders.

Wall Street Zen cut shares of Brookfield Infrastructure (NYSE:BIPC - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Brookfield Infrastructure Trading Up 0.5%

BIPC traded up $0.19 during trading on Friday, hitting $39.00. The stock had a trading volume of 439,272 shares, compared to its average volume of 646,305. The firm has a market cap of $4.64 billion, a PE ratio of 27.08 and a beta of 1.39. Brookfield Infrastructure has a 12 month low of $32.08 and a 12 month high of $45.29. The company has a 50 day simple moving average of $40.86 and a 200-day simple moving average of $39.11.

Brookfield Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.4%. The ex-dividend date is Friday, August 29th. Brookfield Infrastructure's dividend payout ratio (DPR) is 119.44%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in Brookfield Infrastructure by 77.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 20,975 shares of the company's stock worth $873,000 after acquiring an additional 9,139 shares during the period. Corient Private Wealth LLC bought a new position in Brookfield Infrastructure in the 2nd quarter worth $462,000. Chapman Financial Group LLC acquired a new stake in Brookfield Infrastructure in the 2nd quarter worth $357,000. Tidal Investments LLC acquired a new stake in Brookfield Infrastructure in the 2nd quarter worth $665,000. Finally, Lazard Asset Management LLC grew its position in Brookfield Infrastructure by 3,911.3% in the 2nd quarter. Lazard Asset Management LLC now owns 46,651 shares of the company's stock worth $1,940,000 after purchasing an additional 45,488 shares during the last quarter. Institutional investors own 70.38% of the company's stock.

Brookfield Infrastructure Company Profile

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.