HighTower Advisors LLC Has $49.87 Million Stake in Brookfield Infrastructure Co. $BIPC

Key Points

• HighTower Advisors LLC increased its holdings in Brookfield Infrastructure Co. by 85.8%, now owning approximately $49.87 million worth of shares after acquiring an additional 636,353 shares.
• Brookfield Infrastructure announced a quarterly dividend of $0.43, set to be paid on September 29th, with a current annualized dividend of $1.72 and a yield of 4.3%.
• Analysts upgraded Brookfield Infrastructure from a "hold" rating to a "buy" rating, indicating a positive outlook for potential investors.

HighTower Advisors LLC grew its position in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 85.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,378,035 shares of the company's stock after acquiring an additional 636,353 shares during the quarter. HighTower Advisors LLC owned about 1.16% of Brookfield Infrastructure worth $49,871,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brown Advisory Inc. purchased a new stake in Brookfield Infrastructure during the 1st quarter worth about $107,741,000. Nuveen LLC purchased a new stake in shares of Brookfield Infrastructure during the 1st quarter worth about $29,968,000. Parcion Private Wealth LLC acquired a new stake in Brookfield Infrastructure in the first quarter valued at approximately $5,685,000. Deutsche Bank AG acquired a new stake in Brookfield Infrastructure in the first quarter valued at approximately $5,361,000. Finally, TD Asset Management Inc grew its position in Brookfield Infrastructure by 11.9% in the first quarter. TD Asset Management Inc now owns 1,297,388 shares of the company's stock valued at $46,910,000 after acquiring an additional 137,537 shares in the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Brookfield Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday.

Brookfield Infrastructure Stock Down 0.2%

NYSE BIPC traded down $0.06 during trading hours on Monday, hitting $38.66. The company had a trading volume of 118,069 shares, compared to its average volume of 646,636. Brookfield Infrastructure Co. has a fifty-two week low of $32.08 and a fifty-two week high of $45.29. The business has a fifty day simple moving average of $41.00 and a 200-day simple moving average of $39.13. The firm has a market cap of $4.60 billion, a P/E ratio of 26.85 and a beta of 1.39.

Brookfield Infrastructure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a yield of 4.4%. Brookfield Infrastructure's dividend payout ratio (DPR) is presently 119.44%.

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.