Brookfield Infrastructure Co. $BIPC Shares Sold by Integrated Wealth Concepts LLC

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 cut its holdings in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 17.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,387 shares of the company's stock after selling 6,820 shares during the quarter. 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.

A number of other hedge funds have also modified their holdings of BIPC. Caitong International Asset Management Co. Ltd purchased a new position in shares of Brookfield Infrastructure during the 1st quarter worth $29,000. First PREMIER Bank purchased a new position in Brookfield Infrastructure during the 1st quarter valued at about $30,000. Trust Co. of Vermont purchased a new position in Brookfield Infrastructure during the 1st quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Brookfield Infrastructure by 117.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,064 shares of the company's stock valued at $39,000 after acquiring an additional 574 shares during the period. Finally, MAI Capital Management boosted its holdings in Brookfield Infrastructure by 273.9% during the 1st quarter. MAI Capital Management now owns 1,133 shares of the company's stock valued at $41,000 after acquiring an additional 830 shares during the period. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Stock Performance

Shares of BIPC traded down $0.61 during midday trading on Friday, hitting $40.00. The company had a trading volume of 384,249 shares, compared to its average volume of 637,565. The company's 50-day simple moving average is $40.38 and its 200-day simple moving average is $38.92. The firm has a market capitalization of $4.76 billion, a P/E ratio of 27.78 and a beta of 1.38. Brookfield Infrastructure Co. has a 1 year low of $32.08 and a 1 year high of $45.29.

Brookfield Infrastructure Dividend Announcement

The firm 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. This represents a $1.72 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Infrastructure's dividend payout ratio (DPR) is 119.44%.

Analyst Ratings Changes

BIPC has been the subject of a number of research analyst reports. Wall Street Zen upgraded Brookfield Infrastructure from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. Morgan Stanley raised their target price on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, August 26th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Brookfield Infrastructure currently has an average rating of "Hold" and a consensus price target of $46.00.

Brookfield Infrastructure Company 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.