Brookfield Infrastructure Co. $BIPC Stock Holdings Lessened by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in Brookfield Infrastructure by 69.8%, owning approximately 0.18% of the company worth $7.93 million as of its latest SEC filing.
• Brookfield Infrastructure recently declared a quarterly dividend of $0.43 per share, yielding 4.2% with a high dividend payout ratio of 119.44%.
• Analyst ratings for BIPC have varied, with some firms lowering their ratings while others have set an average target price of $46.00.

American Century Companies Inc. lessened its stake in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 69.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 219,242 shares of the company's stock after selling 507,375 shares during the period. American Century Companies Inc. owned 0.18% of Brookfield Infrastructure worth $7,932,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its position in Brookfield Infrastructure by 8.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 904,535 shares of the company's stock valued at $32,729,000 after buying an additional 73,659 shares in the last quarter. GAMMA Investing LLC bought a new position in Brookfield Infrastructure in the 1st quarter valued at about $660,000. Cerity Partners LLC bought a new position in Brookfield Infrastructure in the 1st quarter valued at about $280,000. Fifth Third Bancorp grew its position in Brookfield Infrastructure by 79.1% in the 1st quarter. Fifth Third Bancorp now owns 1,501 shares of the company's stock valued at $54,000 after buying an additional 663 shares in the last quarter. Finally, NBC Securities Inc. grew its position in Brookfield Infrastructure by 113,633.3% in the 1st quarter. NBC Securities Inc. now owns 3,412 shares of the company's stock valued at $123,000 after buying an additional 3,409 shares in the last quarter. Institutional investors own 70.38% of the company's stock.

Brookfield Infrastructure Trading Down 0.6%

BIPC stock traded down $0.26 during mid-day trading on Tuesday, reaching $39.96. 909,730 shares of the stock traded hands, compared to its average volume of 645,663. Brookfield Infrastructure Co. has a 52-week low of $32.08 and a 52-week high of $45.29. The company has a market cap of $4.76 billion, a P/E ratio of 27.75 and a beta of 1.38. The stock's fifty day moving average is $40.69 and its 200-day moving average is $39.02.

Brookfield Infrastructure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid 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 currently 119.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of Brookfield Infrastructure from a "hold" rating to a "sell" rating in a research report on Saturday. Morgan Stanley upped their price target on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $46.00.

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.