Brookfield Infrastructure Co. $BIPC Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Brookfield Infrastructure Co. by 24%, acquiring an additional 19,887 shares during the 1st quarter, bringing its total holdings to 102,866 shares valued at approximately $3.72 million.
• Brookfield Infrastructure recently declared a quarterly dividend of $0.43 per share, which represents an annualized dividend of $1.72 and a yield of 4.2%, despite having a high dividend payout ratio of 119.44%.
• Wall Street analysts have given Brookfield Infrastructure a consensus rating of "Hold" with a price target of $46.00, following varied opinions on the stock, including a downgrade from "buy" to "hold" by Wall Street Zen.

Invesco Ltd. increased its position in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 24.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 102,866 shares of the company's stock after purchasing an additional 19,887 shares during the period. Invesco Ltd. owned 0.09% of Brookfield Infrastructure worth $3,723,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Tranquility Partners LLC lifted its holdings in shares of Brookfield Infrastructure by 3.0% in the 1st quarter. Tranquility Partners LLC now owns 12,200 shares of the company's stock valued at $442,000 after purchasing an additional 352 shares during the last quarter. BankPlus Wealth Management LLC raised its stake in Brookfield Infrastructure by 5.0% during the 1st quarter. BankPlus Wealth Management LLC now owns 10,436 shares of the company's stock valued at $378,000 after acquiring an additional 495 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Brookfield Infrastructure by 104.1% during the 1st quarter. First Horizon Advisors Inc. now owns 1,198 shares of the company's stock valued at $43,000 after acquiring an additional 611 shares during the last quarter. Fifth Third Bancorp raised its stake in Brookfield Infrastructure by 79.1% during the 1st quarter. Fifth Third Bancorp now owns 1,501 shares of the company's stock valued at $54,000 after acquiring an additional 663 shares during the last quarter. Finally, Addenda Capital Inc. raised its stake in Brookfield Infrastructure by 5.1% during the 1st quarter. Addenda Capital Inc. now owns 14,580 shares of the company's stock valued at $528,000 after acquiring an additional 710 shares during the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Price Performance

NYSE BIPC traded down $0.53 on Wednesday, hitting $39.37. 597,368 shares of the company's stock were exchanged, compared to its average volume of 645,373. The firm's 50-day moving average price is $40.66 and its two-hundred day moving average price is $39.02. Brookfield Infrastructure Co. has a fifty-two week low of $32.08 and a fifty-two week high of $45.29. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 27.34 and a beta of 1.38.

Brookfield Infrastructure Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 4.4%. Brookfield Infrastructure's payout ratio is presently 119.44%.

Wall Street Analyst Weigh In

Several research firms have commented on BIPC. Wall Street Zen downgraded Brookfield Infrastructure from a "hold" rating to a "sell" rating in a research note on Saturday. Morgan Stanley upped their price objective on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.