Kestra Advisory Services LLC Cuts Stock Holdings in Brookfield Infrastructure Co. $BIPC

Key Points

• Kestra Advisory Services LLC has reduced its stake in Brookfield Infrastructure Co. by 19.5%, resulting in holdings worth $1,066,000 after selling 7,131 shares in the first quarter.
• Brookfield Infrastructure recently announced a quarterly dividend of $0.43, translating to an annualized dividend of $1.72 with a yield of 4.3%.
• Analysts have mixed opinions on the stock, with Morgan Stanley raising its price target to $46.00 while Wall Street Zen downgraded it from a "hold" to a "sell" rating.

Kestra Advisory Services LLC decreased its holdings in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 19.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,448 shares of the company's stock after selling 7,131 shares during the period. Kestra Advisory Services LLC's holdings in Brookfield Infrastructure were worth $1,066,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of BIPC. First Trust Advisors LP purchased a new position in Brookfield Infrastructure in the fourth quarter valued at $1,274,000. Price T Rowe Associates Inc. MD increased its holdings in Brookfield Infrastructure by 20.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,145 shares of the company's stock valued at $1,887,000 after buying an additional 7,922 shares during the last quarter. Northern Trust Corp increased its holdings in Brookfield Infrastructure by 9.0% in the fourth quarter. Northern Trust Corp now owns 975,969 shares of the company's stock valued at $39,049,000 after buying an additional 80,476 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Brookfield Infrastructure in the fourth quarter valued at $840,000. Finally, Balyasny Asset Management L.P. increased its holdings in Brookfield Infrastructure by 170.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 83,571 shares of the company's stock valued at $3,346,000 after buying an additional 52,681 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BIPC shares. Morgan Stanley increased 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. Wall Street Zen downgraded shares of Brookfield Infrastructure from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $46.00.

Brookfield Infrastructure Trading Up 0.4%

Shares of BIPC traded up $0.17 during mid-day trading on Friday, hitting $39.91. 358,503 shares of the company's stock were exchanged, compared to its average volume of 642,553. 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 capitalization of $4.75 billion, a P/E ratio of 27.72 and a beta of 1.38. The business's 50 day moving average is $40.59 and its two-hundred day moving average is $38.96.

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 paid a dividend of $0.43 per share. The ex-dividend date is Friday, August 29th. This represents a $1.72 annualized dividend and a dividend yield of 4.3%. Brookfield Infrastructure's dividend payout ratio is 119.44%.

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.