Nuveen LLC Takes Position in Brookfield Infrastructure Co. $BIPC

Key Points

• Nuveen LLC has acquired 828,299 shares of Brookfield Infrastructure Co., amounting to approximately $29.97 million, increasing its stake to about 0.70% of the company.
• A range of institutional investors, including Principal Financial Group and TD Asset Management, have also increased their stakes in Brookfield Infrastructure during the first quarter, reflecting growing interest in the company.
• Brookfield Infrastructure recently declared a quarterly dividend of $0.43 per share, representing a yield of 4.4% and a payout ratio of 119.44%.

Nuveen LLC acquired a new stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 828,299 shares of the company's stock, valued at approximately $29,968,000. Nuveen LLC owned 0.70% of Brookfield Infrastructure at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of BIPC. Brown Advisory Inc. purchased a new position in shares of Brookfield Infrastructure in the 1st quarter worth $107,741,000. Parcion Private Wealth LLC purchased a new position in shares of Brookfield Infrastructure in the 1st quarter worth $5,685,000. Deutsche Bank AG purchased a new position in shares of Brookfield Infrastructure in the 1st quarter worth $5,361,000. TD Asset Management Inc grew its stake in shares of Brookfield Infrastructure by 11.9% in the 1st quarter. TD Asset Management Inc now owns 1,297,388 shares of the company's stock worth $46,910,000 after buying an additional 137,537 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of Brookfield Infrastructure in the 1st quarter worth $3,728,000. 70.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Brookfield Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th.

Brookfield Infrastructure Stock Up 2.4%

Shares of NYSE BIPC traded up $0.94 during trading hours on Friday, hitting $39.88. 94,853 shares of the stock were exchanged, compared to its average volume of 641,581. The company has a market cap of $4.75 billion, a PE ratio of 27.69 and a beta of 1.39. Brookfield Infrastructure Co. has a 12 month low of $32.08 and a 12 month high of $45.29. The firm has a fifty day moving average price of $40.80 and a 200-day moving average price of $39.09.

Brookfield Infrastructure Announces Dividend

The business 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. This represents a $1.72 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Infrastructure's payout ratio is currently 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.