Scotia Capital Inc. Has $46.27 Million Stake in Brookfield Infrastructure Co. (NYSE:BIPC)

Key Points

• Scotia Capital Inc. increased its stake in Brookfield Infrastructure Co. by 4.6%, acquiring 57,692 shares and owning approximately 1.10% of the company, valued at $46.27 million.
• Shares of Brookfield Infrastructure opened at $38.42, experiencing a 1.6% decline, with a market cap of $4.57 billion and a twelve-month trading range of $32.08 to $45.29.
• Analysts have upgraded Brookfield Infrastructure from a "hold" rating to a "buy" rating as of July 6th, indicating positive sentiment about the stock's future performance.

Scotia Capital Inc. increased its holdings in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,304,699 shares of the company's stock after purchasing an additional 57,692 shares during the period. Scotia Capital Inc. owned 1.10% of Brookfield Infrastructure worth $46,272,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. First PREMIER Bank acquired a new stake in shares of Brookfield Infrastructure during the first quarter worth approximately $30,000. Trust Co. of Vermont bought a new stake in shares of Brookfield Infrastructure in the 1st quarter worth about $34,000. First Horizon Advisors Inc. raised its stake in shares of Brookfield Infrastructure by 104.1% in the 1st quarter. First Horizon Advisors Inc. now owns 1,198 shares of the company's stock valued at $43,000 after purchasing an additional 611 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of Brookfield Infrastructure during the 4th quarter valued at approximately $46,000. Finally, Fifth Third Bancorp boosted its holdings in Brookfield Infrastructure by 79.1% in the first quarter. Fifth Third Bancorp now owns 1,501 shares of the company's stock worth $54,000 after purchasing an additional 663 shares during the period. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Brookfield Infrastructure from a "hold" rating to a "buy" rating in a research note on Sunday, July 6th.

Brookfield Infrastructure Price Performance

Shares of Brookfield Infrastructure stock traded down $0.14 during trading on Thursday, hitting $39.38. The stock had a trading volume of 111,443 shares, compared to its average volume of 646,937. 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 cap of $4.69 billion, a P/E ratio of 27.35 and a beta of 1.39. The business has a fifty day moving average of $41.09 and a two-hundred day moving average of $39.24.

Brookfield Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors 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 4.4%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Infrastructure's payout ratio is presently 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.