Integrated Wealth Concepts LLC Sells 6,820 Shares of Brookfield Infrastructure Co. $BIPC

Key Points

• Integrated Wealth Concepts LLC reduced its stake in Brookfield Infrastructure Co. by 17.4%, owning 32,387 shares valued at approximately $1.17 million as of the recent SEC filing.
• Brookfield Infrastructure announced a quarterly dividend of $0.43 per share, reflecting an annualized yield of 4.3% and a payout ratio of 119.44%.
• Several brokerages have upgraded their ratings on Brookfield Infrastructure, with Morgan Stanley raising its price target from $45.00 to $46.00 and the average consensus rating now at "Hold."

Integrated Wealth Concepts LLC lowered its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,387 shares of the company's stock after selling 6,820 shares during the period. Integrated Wealth Concepts LLC's holdings in Brookfield Infrastructure were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of Brookfield Infrastructure by 2.7% during the first quarter. Principal Financial Group Inc. now owns 3,194,929 shares of the company's stock valued at $115,624,000 after buying an additional 85,121 shares during the last quarter. Brown Advisory Inc. bought a new stake in shares of Brookfield Infrastructure during the first quarter valued at approximately $107,741,000. Epoch Investment Partners Inc. raised its position in shares of Brookfield Infrastructure by 10.5% during the first quarter. Epoch Investment Partners Inc. now owns 1,797,568 shares of the company's stock valued at $65,054,000 after buying an additional 171,427 shares during the last quarter. HighTower Advisors LLC raised its position in shares of 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. Finally, Scotia Capital Inc. raised its position in shares of Brookfield Infrastructure by 4.6% during the first quarter. Scotia Capital Inc. now owns 1,304,699 shares of the company's stock valued at $46,272,000 after buying an additional 57,692 shares during the last quarter. Institutional investors own 70.38% of the company's stock.

Brookfield Infrastructure Stock Performance

BIPC stock traded up $0.17 during mid-day trading on Tuesday, reaching $40.66. 429,328 shares of the stock traded hands, compared to its average volume of 635,116. Brookfield Infrastructure Co. has a one year low of $32.08 and a one year high of $45.29. The stock has a market capitalization of $4.84 billion, a PE ratio of 28.24 and a beta of 1.38. The business has a 50-day moving average price of $40.32 and a two-hundred day moving average price of $38.92.

Brookfield Infrastructure Dividend Announcement

The company 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 4.2%. Brookfield Infrastructure's payout ratio is 119.44%.

Analyst Ratings Changes

BIPC has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 26th. Wall Street Zen cut shares of Brookfield Infrastructure from a "hold" rating to a "sell" rating in a research report on Monday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $46.00.

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.