Brookfield Infrastructure Co. $BIPC Shares Sold by Ipswich Investment Management Co. Inc.

Key Points

• Ipswich Investment Management Co. Inc. has decreased its stake in Brookfield Infrastructure Co. by 7.3%, owning 81,652 shares valued at approximately $3.4 million after selling 6,435 shares.
• Brookfield Infrastructure recently announced a quarterly dividend of $0.43 per share, leading to an annualized dividend of $1.72 and a yield of 4.2%.
• Research analysts upgraded the stock's rating from "sell" to "hold" and raised the target price from $45.00 to $46.00, reflecting a consensus hold rating among analysts.

Ipswich Investment Management Co. Inc. lessened its stake in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 7.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,652 shares of the company's stock after selling 6,435 shares during the quarter. Ipswich Investment Management Co. Inc. owned about 0.07% of Brookfield Infrastructure worth $3,397,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BankPlus Wealth Management LLC boosted its holdings in Brookfield Infrastructure by 2.6% in the second quarter. BankPlus Wealth Management LLC now owns 10,708 shares of the company's stock valued at $445,000 after acquiring an additional 272 shares during the last quarter. American National Bank & Trust acquired a new position in shares of Brookfield Infrastructure in the 2nd quarter valued at about $70,000. Farther Finance Advisors LLC lifted its stake 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 purchasing an additional 693 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its position in Brookfield Infrastructure by 5.7% during the second quarter. Baker Tilly Wealth Management LLC now owns 10,039 shares of the company's stock valued at $418,000 after buying an additional 544 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Brookfield Infrastructure by 15.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,999 shares of the company's stock valued at $863,000 after buying an additional 2,683 shares in the last quarter. Institutional investors and hedge funds own 70.38% of the company's stock.

Brookfield Infrastructure Stock Up 2.6%

BIPC stock opened at $40.96 on Friday. Brookfield Infrastructure Co. has a fifty-two week low of $32.08 and a fifty-two week high of $45.29. The firm's 50-day simple moving average is $40.20 and its 200 day simple moving average is $39.07. The stock has a market cap of $4.88 billion, a PE ratio of 28.44 and a beta of 1.38.

Brookfield Infrastructure Dividend Announcement

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

Analyst Upgrades and Downgrades

BIPC has been the topic of a number of recent research reports. Wall Street Zen upgraded Brookfield Infrastructure from a "sell" rating to a "hold" rating in a research note on Friday. Morgan Stanley upped their target price on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price 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.

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