SCS Capital Management LLC Buys New Position in Brookfield Infrastructure Co. $BIPC

Key Points

• SCS Capital Management LLC has acquired a new position in Brookfield Infrastructure Co. (NYSE:BIPC) worth approximately $9.62 million, comprising 265,754 shares, representing 0.22% ownership.
• Several other institutional investors have increased their stakes in BIPC, with a total of 70.38% of the stock currently held by institutional investors.
• The company recently announced a quarterly dividend of $0.43 per share, yielding 4.2%, amidst a dividend payout ratio of 119.44%.

SCS Capital Management LLC bought a new stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 265,754 shares of the company's stock, valued at approximately $9,618,000. SCS Capital Management LLC owned about 0.22% of Brookfield Infrastructure as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in shares of Brookfield Infrastructure by 8.9% during the 1st 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 during the last quarter. GAMMA Investing LLC bought a new position in shares of Brookfield Infrastructure during the 1st quarter valued at $660,000. Cerity Partners LLC bought a new position in shares of Brookfield Infrastructure during the 1st quarter valued at $280,000. Fifth Third Bancorp grew its holdings in Brookfield Infrastructure by 79.1% in the 1st quarter. Fifth Third Bancorp now owns 1,501 shares of the company's stock worth $54,000 after acquiring an additional 663 shares during the last quarter. Finally, NBC Securities Inc. grew its holdings in Brookfield Infrastructure by 113,633.3% in the 1st quarter. NBC Securities Inc. now owns 3,412 shares of the company's stock worth $123,000 after acquiring an additional 3,409 shares during the last quarter. Institutional investors own 70.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BIPC. Wall Street Zen raised shares of Brookfield Infrastructure from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. Morgan Stanley raised their target price on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 26th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $46.00.

Brookfield Infrastructure Trading Down 1.5%

NYSE:BIPC traded down $0.61 on Friday, reaching $40.00. 384,249 shares of the stock traded hands, compared to its average volume of 637,565. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 27.78 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. The company's fifty day simple moving average is $40.38 and its 200 day simple moving average is $38.91.

Brookfield Infrastructure Announces Dividend

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