1832 Asset Management L.P. Invests $477,000 in Brookfield Infrastructure Co. $BIPC

Key Points

• 1832 Asset Management L.P. has invested approximately $477,000 in Brookfield Infrastructure Co. by acquiring 13,184 shares, marking a notable new position for the firm.
• Equities analysts have set a consensus target price of $46.00 for Brookfield Infrastructure, with a majority rating the stock as "Hold".
• The company recently declared a quarterly dividend of $0.43 per share, resulting in an annualized yield of 4.3%, despite a payout ratio of 119.44%.

1832 Asset Management L.P. acquired a new position in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,184 shares of the company's stock, valued at approximately $477,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BIPC. NewEdge Advisors LLC boosted its holdings in shares of Brookfield Infrastructure by 343.4% in the 4th quarter. NewEdge Advisors LLC now owns 2,656 shares of the company's stock worth $106,000 after purchasing an additional 2,057 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Brookfield Infrastructure in the 4th quarter worth about $1,274,000. Stifel Financial Corp boosted its holdings in shares of Brookfield Infrastructure by 5.4% in the 4th quarter. Stifel Financial Corp now owns 159,876 shares of the company's stock worth $6,397,000 after purchasing an additional 8,173 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Brookfield Infrastructure by 20.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,145 shares of the company's stock worth $1,887,000 after purchasing an additional 7,922 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Brookfield Infrastructure by 9.0% in the 4th quarter. Northern Trust Corp now owns 975,969 shares of the company's stock worth $39,049,000 after purchasing an additional 80,476 shares in the last quarter. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday. Wall Street Zen lowered Brookfield Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $46.00.

Brookfield Infrastructure Trading Up 1.5%

NYSE BIPC opened at $40.37 on Wednesday. Brookfield Infrastructure Co. has a 1-year low of $32.08 and a 1-year high of $45.29. The stock has a 50-day moving average of $40.74 and a 200-day moving average of $39.04. The firm has a market cap of $4.81 billion, a PE ratio of 28.03 and a beta of 1.39.

Brookfield Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a yield of 4.3%. Brookfield Infrastructure's dividend payout ratio is presently 119.44%.

Brookfield Infrastructure 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.

Want to see what other hedge funds are holding BIPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Infrastructure Co. (NYSE:BIPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.