Russell Investments Group Ltd. Increases Stake in Brookfield Infrastructure Co. $BIPC

Key Points

• Russell Investments Group Ltd. increased its stake in Brookfield Infrastructure Co. by 6.1%, owning approximately 0.09% of the company valued at about $3.98 million as of its latest SEC filing.
• Brookfield Infrastructure recently announced a quarterly dividend of $0.43, representing a 4.3% dividend yield, with a payout ratio of 119.44%.
• Wall Street Zen downgraded Brookfield Infrastructure's rating from "buy" to "hold" in a recent research note, potentially impacting investor sentiment.

Russell Investments Group Ltd. raised its position in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 6.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,980 shares of the company's stock after acquiring an additional 6,341 shares during the period. Russell Investments Group Ltd. owned approximately 0.09% of Brookfield Infrastructure worth $3,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. raised its holdings in shares of Brookfield Infrastructure by 8.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 904,535 shares of the company's stock worth $32,729,000 after acquiring an additional 73,659 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Brookfield Infrastructure during the 1st quarter worth approximately $660,000. Cerity Partners LLC purchased a new stake in shares of Brookfield Infrastructure during the 1st quarter worth approximately $280,000. Fifth Third Bancorp raised its holdings in Brookfield Infrastructure by 79.1% during 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 during the period. Finally, NBC Securities Inc. raised its holdings in Brookfield Infrastructure by 113,633.3% during 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 during the period. 70.38% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Trading Down 0.0%

Shares of BIPC traded down $0.01 during midday trading on Thursday, reaching $40.50. 64,745 shares of the stock were exchanged, compared to its average volume of 638,664. Brookfield Infrastructure Co. has a 52 week low of $32.08 and a 52 week high of $45.29. The company's 50 day moving average is $40.74 and its two-hundred day moving average is $39.05. The company has a market capitalization of $4.82 billion, a P/E ratio of 28.13 and a beta of 1.39.

Brookfield Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, August 29th. Brookfield Infrastructure's dividend payout ratio (DPR) is currently 119.44%.

Analyst Ratings Changes

Several analysts recently weighed in on BIPC shares. Morgan Stanley increased their price target on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday. Wall Street Zen downgraded Brookfield Infrastructure from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Brookfield Infrastructure currently has a consensus rating of "Hold" and a consensus price target of $46.00.

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.