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 shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 463,739 shares of the company's stock after selling 14,153 shares during the quarter. Focus Partners Wealth owned about 0.39% of Brookfield Infrastructure worth $16,783,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BIPC. Caitong International Asset Management Co. Ltd acquired a new position in shares of Brookfield Infrastructure during the 1st quarter valued at about $29,000. First PREMIER Bank acquired a new stake in Brookfield Infrastructure in the 1st quarter worth approximately $30,000. Trust Co. of Vermont acquired a new position in Brookfield Infrastructure during the first quarter valued at approximately $34,000. Northwestern Mutual Wealth Management Co. grew its holdings in Brookfield Infrastructure by 117.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,064 shares of the company's stock valued at $39,000 after purchasing an additional 574 shares during the last quarter. Finally, MAI Capital Management raised its position in shares of Brookfield Infrastructure by 273.9% in the first quarter. MAI Capital Management now owns 1,133 shares of the company's stock valued at $41,000 after purchasing an additional 830 shares during the period. Institutional investors and hedge funds own 70.38% of the company's stock.

Wall Street Analysts Forecast Growth

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

Brookfield Infrastructure Stock Up 1.2%

Shares of BIPC stock traded up $0.49 during mid-day trading on Thursday, reaching $40.92. The stock had a trading volume of 138,486 shares, compared to its average volume of 631,919. Brookfield Infrastructure Co. has a one year low of $32.08 and a one year high of $45.29. The firm has a market cap of $4.87 billion, a PE ratio of 28.42 and a beta of 1.38. The firm's 50 day simple moving average is $40.30 and its 200 day simple moving average is $38.93.

Brookfield Infrastructure Dividend Announcement

The firm 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 payout ratio is 119.44%.

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.