Ninety One UK Ltd Takes Position in Brookfield Infrastructure Co. $BIPC

Key Points

• Ninety One UK Ltd acquired a new stake in Brookfield Infrastructure Co., purchasing 341,102 shares valued at approximately $14.19 million in the second quarter.
• Brookfield Infrastructure recently announced a quarterly dividend of $0.43, with a current yield of 4.1% and a payout ratio of 119.44%.
• Analysts have set a consensus price target of $46.00 for Brookfield Infrastructure, with an average rating of "Hold" from equities research analysts.

Ninety One UK Ltd purchased a new stake in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 341,102 shares of the company's stock, valued at approximately $14,190,000. Ninety One UK Ltd owned approximately 0.29% of Brookfield Infrastructure at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Brookfield Infrastructure by 8.9% in the first quarter. Envestnet Asset Management Inc. now owns 904,535 shares of the company's stock valued at $32,729,000 after purchasing an additional 73,659 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Brookfield Infrastructure by 42.5% in the first quarter. Intech Investment Management LLC now owns 65,225 shares of the company's stock valued at $2,360,000 after purchasing an additional 19,453 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Brookfield Infrastructure in the first quarter valued at about $660,000. Cerity Partners LLC bought a new stake in shares of Brookfield Infrastructure in the first quarter valued at about $280,000. Finally, Fifth Third Bancorp increased its position in shares of Brookfield Infrastructure by 79.1% in the first 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. 70.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on BIPC shares. Wall Street Zen upgraded Brookfield Infrastructure from a "sell" rating to a "hold" rating in a report on Friday, September 26th. Morgan Stanley upped their target price on Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $46.00.

Brookfield Infrastructure Stock Up 1.2%

NYSE:BIPC opened at $41.61 on Thursday. The stock's 50 day moving average price is $40.17 and its two-hundred day moving average price is $39.20. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 28.90 and a beta of 1.38. 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. Shareholders of record on Friday, August 29th were paid a $0.43 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.72 annualized dividend and a yield of 4.1%. Brookfield Infrastructure's dividend payout ratio is currently 119.44%.

Brookfield Infrastructure 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.

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