Rhumbline Advisers Has $7.42 Million Holdings in Brookfield Infrastructure Co. $BIPC

Key Points

• Rhumbline Advisers reduced its stake in Brookfield Infrastructure Co. by 4.5%, now holding approximately 205,055 shares valued at about $7.4 million.
• Brookfield Infrastructure announced a quarterly dividend of $0.43 per share, representing an annualized dividend of $1.72 with a yield of 4.2%.
• Analysts have generally rated Brookfield Infrastructure stock as a "Hold," with a consensus price target of $46.00 following recent upgrades from equity analysts.

Rhumbline Advisers trimmed its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 205,055 shares of the company's stock after selling 9,648 shares during the period. Rhumbline Advisers owned about 0.17% of Brookfield Infrastructure worth $7,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its holdings in shares of Brookfield Infrastructure by 8.9% in the first 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 in the last quarter. GAMMA Investing LLC bought a new stake in Brookfield Infrastructure in the 1st quarter valued at approximately $660,000. Cerity Partners LLC acquired a new position in Brookfield Infrastructure during the 1st quarter worth approximately $280,000. Fifth Third Bancorp grew its stake in shares of Brookfield Infrastructure by 79.1% during the 1st quarter. Fifth Third Bancorp now owns 1,501 shares of the company's stock worth $54,000 after acquiring an additional 663 shares in the last quarter. Finally, NBC Securities Inc. raised its holdings in shares of Brookfield Infrastructure by 113,633.3% in the first quarter. NBC Securities Inc. now owns 3,412 shares of the company's stock valued at $123,000 after purchasing an additional 3,409 shares during the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Price Performance

BIPC stock traded up $0.48 during midday trading on Monday, reaching $40.50. 414,495 shares of the company were exchanged, compared to its average volume of 636,290. Brookfield Infrastructure Co. has a one year low of $32.08 and a one year high of $45.29. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 28.13 and a beta of 1.38. The business has a 50-day moving average price of $40.38 and a two-hundred day moving average price of $38.91.

Brookfield Infrastructure Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BIPC. Wall Street Zen downgraded shares of Brookfield Infrastructure from a "hold" rating to a "sell" rating in a research note on Monday. 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 research report on Tuesday, August 26th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and an average 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.