Maryland State Retirement & Pension System Sells 6,594 Shares of Brookfield Infrastructure Co. $BIPC

Key Points

• The Maryland State Retirement & Pension System reduced its holdings in Brookfield Infrastructure Co. by 4.4% in Q2, selling 6,594 shares and now owns approximately 0.12% of the company valued at $6,030,000.
• Various institutional investors have modified their stakes, with significant increases from Principal Financial Group (2.7% increase) and HighTower Advisors (85.8% increase) during the first quarter.
• Brookfield Infrastructure recently declared a quarterly dividend of $0.43, equating to an annualized yield of 3.9% and highlighting a dividend payout ratio of 119.44%.

Maryland State Retirement & Pension System lessened its position in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,945 shares of the company's stock after selling 6,594 shares during the quarter. Maryland State Retirement & Pension System owned about 0.12% of Brookfield Infrastructure worth $6,030,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Brookfield Infrastructure by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 3,194,929 shares of the company's stock worth $115,624,000 after acquiring an additional 85,121 shares in the last quarter. Brown Advisory Inc. bought a new position in shares of Brookfield Infrastructure during the 1st quarter worth approximately $107,741,000. Epoch Investment Partners Inc. raised its stake in shares of Brookfield Infrastructure by 10.5% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,797,568 shares of the company's stock worth $65,054,000 after acquiring an additional 171,427 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Brookfield Infrastructure by 85.8% during the 1st quarter. HighTower Advisors LLC now owns 1,378,035 shares of the company's stock worth $49,871,000 after acquiring an additional 636,353 shares in the last quarter. Finally, Scotia Capital Inc. increased its stake in Brookfield Infrastructure by 4.6% during the 1st quarter. Scotia Capital Inc. now owns 1,304,699 shares of the company's stock valued at $46,272,000 after purchasing an additional 57,692 shares in the last quarter. Institutional investors own 70.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BIPC. Weiss Ratings restated a "sell (d)" rating on shares of Brookfield Infrastructure in a research note on Saturday, September 27th. Wall Street Zen upgraded shares of Brookfield Infrastructure from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. Finally, Morgan Stanley upped their price target on shares of 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 and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and an average price target of $46.00.

Brookfield Infrastructure Price Performance

BIPC stock opened at $43.93 on Friday. The firm's fifty day simple moving average is $40.50 and its 200-day simple moving average is $39.54. The company has a market capitalization of $5.23 billion, a P/E ratio of 30.51 and a beta of 1.45. Brookfield Infrastructure Co. has a 12 month low of $32.08 and a 12 month high of $45.29.

Brookfield Infrastructure Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Infrastructure's dividend payout ratio 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.

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