Royal Bank of Canada Cuts Stake in Brookfield Infrastructure Co. $BIPC

Key Points

• Royal Bank of Canada reduced its stake in Brookfield Infrastructure Co. by 0.2%, now owning approximately 3.42 million shares valued at $123.92 million.
• Brookfield Infrastructure recently declared a quarterly dividend of $0.43 per share, translating to an annualized yield of 4.3%, despite a high payout ratio of 119.44%.
• Analysts have mixed views on Brookfield Infrastructure, with Wall Street Zen downgrading the stock to "sell" while Morgan Stanley raised its price target from $45.00 to $46.00.

Royal Bank of Canada trimmed its holdings in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,424,229 shares of the company's stock after selling 6,933 shares during the quarter. Royal Bank of Canada owned 2.88% of Brookfield Infrastructure worth $123,924,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of Brookfield Infrastructure by 2.7% in the first quarter. Principal Financial Group Inc. now owns 3,194,929 shares of the company's stock valued at $115,624,000 after purchasing an additional 85,121 shares during the last quarter. Brown Advisory Inc. purchased a new position in Brookfield Infrastructure during the first quarter valued at approximately $107,741,000. Epoch Investment Partners Inc. grew its stake in Brookfield Infrastructure by 10.5% during the first quarter. Epoch Investment Partners Inc. now owns 1,797,568 shares of the company's stock valued at $65,054,000 after acquiring an additional 171,427 shares in the last quarter. HighTower Advisors LLC grew its stake in Brookfield Infrastructure by 85.8% during the first quarter. HighTower Advisors LLC now owns 1,378,035 shares of the company's stock valued at $49,871,000 after acquiring an additional 636,353 shares in the last quarter. Finally, Scotia Capital Inc. lifted its position in Brookfield Infrastructure by 4.6% during the first quarter. Scotia Capital Inc. now owns 1,304,699 shares of the company's stock valued at $46,272,000 after purchasing an additional 57,692 shares during the last quarter. 70.38% of the stock is owned by institutional investors.

Brookfield Infrastructure Stock Up 0.4%

BIPC stock traded up $0.17 during midday trading on Friday, hitting $39.91. The company's stock had a trading volume of 358,503 shares, compared to its average volume of 642,553. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 27.72 and a beta of 1.38. Brookfield Infrastructure Co. has a 12 month low of $32.08 and a 12 month high of $45.29. The company has a 50 day moving average of $40.59 and a two-hundred day moving average of $38.96.

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 $0.43 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a yield of 4.3%. Brookfield Infrastructure's dividend payout ratio (DPR) is currently 119.44%.

Wall Street Analysts Forecast Growth

BIPC has been the topic of several research reports. Wall Street Zen raised shares of Brookfield Infrastructure from a "sell" rating to a "hold" rating in a research note on Sunday. Morgan Stanley boosted 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 investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $46.00.

Brookfield Infrastructure Company 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.