Brookfield Infrastructure Co. (NYSE:BIPC) Shares Purchased by HighTower Advisors LLC

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 increased its position in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 85.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,378,035 shares of the company's stock after purchasing an additional 636,353 shares during the period. HighTower Advisors LLC owned approximately 1.16% of Brookfield Infrastructure worth $49,871,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BIPC. First PREMIER Bank acquired a new position in Brookfield Infrastructure during the first quarter worth about $30,000. Trust Co. of Vermont acquired a new position in Brookfield Infrastructure during the first quarter worth about $34,000. First Horizon Advisors Inc. grew its position in Brookfield Infrastructure by 104.1% during the first quarter. First Horizon Advisors Inc. now owns 1,198 shares of the company's stock worth $43,000 after buying an additional 611 shares during the period. Transce3nd LLC acquired a new position in Brookfield Infrastructure during the fourth quarter worth about $46,000. Finally, SouthState Corp acquired a new position in Brookfield Infrastructure during the first quarter worth about $47,000. 70.38% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Stock Up 0.5%

Shares of BIPC traded up $0.20 during mid-day trading on Friday, reaching $38.73. 609,212 shares of the company's stock were exchanged, compared to its average volume of 650,121. The company has a 50-day simple moving average of $41.00 and a two-hundred day simple moving average of $39.15. Brookfield Infrastructure Co. has a 52-week low of $32.08 and a 52-week high of $45.29. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 26.90 and a beta of 1.39.

Brookfield Infrastructure Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Brookfield Infrastructure from a "buy" rating to a "hold" rating in a research report on Saturday.

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.