Focus Partners Wealth Sells 14,153 Shares of Brookfield Infrastructure Co. $BIPC

Key Points

• Focus Partners Wealth sold 14,153 shares of Brookfield Infrastructure Co., reducing its holdings by 3.0% to approximately 463,739 shares, valued at $16.8 million.
• Brookfield Infrastructure recently declared a quarterly dividend of $0.43 per share, representing an annualized yield of 4.3% and a payout ratio of 119.44%.
• Wall Street analysts rate Brookfield Infrastructure with a consensus of "Hold" and set an average target price of $46.00, reflecting a recent upgrade from a "sell" rating by Wall Street Zen.

Focus Partners Wealth trimmed its holdings in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 463,739 shares of the company's stock after selling 14,153 shares during the quarter. Focus Partners Wealth owned approximately 0.39% of Brookfield Infrastructure worth $16,783,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. 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 worth $115,624,000 after buying an additional 85,121 shares during the period. Brown Advisory Inc. purchased a new stake in shares of Brookfield Infrastructure in the first quarter worth approximately $107,741,000. Epoch Investment Partners Inc. raised its holdings in shares of Brookfield Infrastructure by 10.5% in the first quarter. Epoch Investment Partners Inc. now owns 1,797,568 shares of the company's stock worth $65,054,000 after buying an additional 171,427 shares during the period. HighTower Advisors LLC raised its holdings in shares of Brookfield Infrastructure by 85.8% in the first quarter. HighTower Advisors LLC now owns 1,378,035 shares of the company's stock worth $49,871,000 after buying an additional 636,353 shares during the period. Finally, Scotia Capital Inc. raised its holdings in shares of Brookfield Infrastructure by 4.6% in the first quarter. Scotia Capital Inc. now owns 1,304,699 shares of the company's stock worth $46,272,000 after buying an additional 57,692 shares during the period. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Trading Down 1.5%

BIPC opened at $40.00 on Friday. Brookfield Infrastructure Co. has a 12-month low of $32.08 and a 12-month high of $45.29. The business's fifty day simple moving average is $40.38 and its 200-day simple moving average is $38.92. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 27.78 and a beta of 1.38.

Brookfield Infrastructure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.3%. Brookfield Infrastructure's dividend payout ratio is presently 119.44%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BIPC shares. Wall Street Zen upgraded Brookfield Infrastructure from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. Morgan Stanley increased their price target on Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.

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