Hsbc Holdings PLC Raises Stock Position in Brookfield Infrastructure Co. $BIPC

Key Points

• HSBC Holdings PLC significantly increased its investment in Brookfield Infrastructure Co. by 1,096.7% in Q1, now holding 173,803 shares valued at $6.31 million.
• Brookfield Infrastructure recently declared a quarterly dividend of $0.43 per share, which represents an annualized dividend yield of 4.3%.
• Wall Street analysts have downgraded Brookfield Infrastructure's rating from "buy" to "hold," indicating a more cautious outlook for the stock.

Hsbc Holdings PLC increased its position in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 1,096.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 173,803 shares of the company's stock after buying an additional 159,280 shares during the period. Hsbc Holdings PLC owned about 0.15% of Brookfield Infrastructure worth $6,316,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Brown Advisory Inc. bought a new position in Brookfield Infrastructure during the first quarter valued at approximately $107,741,000. Nuveen LLC bought a new position in Brookfield Infrastructure during the first quarter valued at approximately $29,968,000. HighTower Advisors LLC boosted 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 buying an additional 636,353 shares during the last quarter. Parcion Private Wealth LLC bought a new position in Brookfield Infrastructure during the first quarter valued at approximately $5,685,000. Finally, Deutsche Bank AG bought a new position in Brookfield Infrastructure during the first quarter valued at approximately $5,361,000. Hedge funds and other institutional investors own 70.38% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen lowered Brookfield Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Morgan Stanley increased 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. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $46.00.

Brookfield Infrastructure Stock Up 0.5%

Brookfield Infrastructure stock traded up $0.19 during midday trading on Thursday, reaching $40.70. The stock had a trading volume of 501,285 shares, compared to its average volume of 641,453. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 28.26 and a beta of 1.39. The company has a fifty day moving average of $40.75 and a 200 day moving average of $39.05. Brookfield Infrastructure Co. has a 52-week low of $32.08 and a 52-week high of $45.29.

Brookfield Infrastructure Announces Dividend

The business also recently announced 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 4.2%. Brookfield Infrastructure's dividend payout ratio (DPR) is 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.