Northern Trust Corp Sells 43,166 Shares of Brookfield Infrastructure Co. $BIPC

Key Points

• Northern Trust Corp reduced its stake in Brookfield Infrastructure Co. by 4.4%, owning 932,803 shares worth approximately $33.76 million as of the latest SEC filing.
• Analysts have downgraded the stock from "hold" to "sell," while Morgan Stanley raised its price target from $45.00 to $46.00, maintaining an "equal weight" rating.
• Brookfield Infrastructure announced a quarterly dividend of $0.43, representing an annual yield of 4.3%, although its dividend payout ratio is currently 119.44%.

Northern Trust Corp lowered its position in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 4.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 932,803 shares of the company's stock after selling 43,166 shares during the quarter. Northern Trust Corp owned 0.78% of Brookfield Infrastructure worth $33,758,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its stake in Brookfield Infrastructure by 2.7% in the first quarter. Principal Financial Group Inc. now owns 3,194,929 shares of the company's stock valued at $115,624,000 after acquiring an additional 85,121 shares during the period. Brown Advisory Inc. bought a new stake in shares of Brookfield Infrastructure in the 1st quarter valued at approximately $107,741,000. HighTower Advisors LLC raised its holdings in shares of Brookfield Infrastructure by 85.8% in the 1st quarter. HighTower Advisors LLC now owns 1,378,035 shares of the company's stock worth $49,871,000 after buying an additional 636,353 shares in the last quarter. Scotia Capital Inc. lifted its position in shares of Brookfield Infrastructure by 4.6% during the 1st quarter. Scotia Capital Inc. now owns 1,304,699 shares of the company's stock worth $46,272,000 after buying an additional 57,692 shares during the period. Finally, TD Asset Management Inc boosted its stake in Brookfield Infrastructure by 11.9% in the 1st quarter. TD Asset Management Inc now owns 1,297,388 shares of the company's stock valued at $46,910,000 after buying an additional 137,537 shares in the last quarter. 70.38% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Stock Performance

BIPC traded up $0.40 during mid-day trading on Thursday, reaching $39.74. The stock had a trading volume of 455,717 shares, compared to its average volume of 644,244. The firm's fifty day simple moving average is $40.62 and its two-hundred day simple moving average is $39.01. The stock has a market capitalization of $4.73 billion, a P/E ratio of 27.60 and a beta of 1.38. Brookfield Infrastructure Co. has a 52 week low of $32.08 and a 52 week high of $45.29.

Brookfield Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a yield of 4.3%. Brookfield Infrastructure's payout ratio is currently 119.44%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 26th. Wall Street Zen lowered shares of Brookfield Infrastructure from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $46.00.

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.