Belpointe Asset Management LLC Purchases Shares of 5,659 Brookfield Infrastructure Co. $BIPC

Key Points

• Belpointe Asset Management LLC has acquired 5,659 shares of Brookfield Infrastructure Co. (NYSE:BIPC), worth approximately $235,000.
• The company recently announced a quarterly dividend of $0.43 per share, resulting in an annualized yield of 3.8%.
• Analysts have mixed ratings on BIPC, with Morgan Stanley lifting the price target to $46.00, but overall consensus suggests a rating of "Reduce."

Belpointe Asset Management LLC purchased a new stake in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,659 shares of the company's stock, valued at approximately $235,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. grew its position in shares of Brookfield Infrastructure by 338.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 710 shares of the company's stock valued at $26,000 after acquiring an additional 548 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Brookfield Infrastructure in the 1st quarter valued at about $29,000. First PREMIER Bank bought a new position in shares of Brookfield Infrastructure in the 1st quarter valued at about $30,000. Farther Finance Advisors LLC grew its position in shares of Brookfield Infrastructure by 1,307.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 746 shares of the company's stock valued at $31,000 after acquiring an additional 693 shares during the period. Finally, Trust Co. of Vermont bought a new position in shares of Brookfield Infrastructure in the 1st quarter valued at about $34,000. Institutional investors own 70.38% of the company's stock.

Brookfield Infrastructure Stock Performance

Shares of BIPC stock opened at $45.22 on Friday. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 31.40 and a beta of 1.45. The company has a 50-day simple moving average of $40.63 and a 200 day simple moving average of $39.62. Brookfield Infrastructure Co. has a 52 week low of $32.08 and a 52 week high of $45.42.

Brookfield Infrastructure Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a yield of 3.8%. Brookfield Infrastructure's payout ratio is currently 119.44%.

Analyst Ratings Changes

A number of research analysts have recently commented on BIPC shares. Wall Street Zen raised shares of Brookfield Infrastructure from a "sell" rating to a "hold" rating in a research report on Friday, September 26th. Weiss Ratings reissued a "sell (d)" rating on shares of Brookfield Infrastructure in a research report on Saturday, September 27th. Finally, Morgan Stanley lifted their price objective on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $46.00.

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.

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