Intech Investment Management LLC Purchases 19,453 Shares of Brookfield Infrastructure Co. $BIPC

Key Points

• Intech Investment Management LLC increased its stake in Brookfield Infrastructure Co. by 42.5% in the first quarter, acquiring an additional 19,453 shares and bringing their total to 65,225 shares valued at approximately $2.36 million.
• The company will pay a quarterly dividend of $0.43 on September 29, representing an annualized payout of $1.72 and a yield of 4.2%.
• Brookfield Infrastructure's stock received mixed analyst ratings, with Morgan Stanley raising its price target to $46.00, while Wall Street Zen downgraded it from "hold" to "sell."

Intech Investment Management LLC lifted its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 42.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,225 shares of the company's stock after acquiring an additional 19,453 shares during the quarter. Intech Investment Management LLC owned about 0.05% of Brookfield Infrastructure worth $2,360,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its stake in shares of 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 purchasing an additional 73,659 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Brookfield Infrastructure in the 1st quarter valued at $660,000. Cerity Partners LLC acquired a new stake in shares of Brookfield Infrastructure in the 1st quarter valued at $280,000. Fifth Third Bancorp lifted its stake in shares of 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 purchasing an additional 663 shares during the last quarter. Finally, NBC Securities Inc. lifted its position in Brookfield Infrastructure by 113,633.3% during the 1st quarter. NBC Securities Inc. now owns 3,412 shares of the company's stock worth $123,000 after acquiring an additional 3,409 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 26th. Wall Street Zen lowered shares of Brookfield Infrastructure from a "hold" rating to a "sell" rating in a report on Monday, September 15th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Brookfield Infrastructure has a consensus rating of "Hold" and an average price target of $46.00.

Brookfield Infrastructure Stock Performance

Shares of NYSE:BIPC traded down $0.28 during trading on Friday, reaching $40.79. The stock had a trading volume of 766,837 shares, compared to its average volume of 634,516. Brookfield Infrastructure Co. has a 52 week low of $32.08 and a 52 week high of $45.29. The firm's fifty day moving average is $40.30 and its 200 day moving average is $38.96. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 28.33 and a beta of 1.38.

Brookfield Infrastructure Dividend Announcement

The firm also recently announced 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. This represents a $1.72 dividend on an annualized basis 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%.

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.