Swiss National Bank Sells 26,000 Shares of Brookfield Infrastructure Co. $BIPC

Key Points

• The Swiss National Bank reduced its stake in Brookfield Infrastructure Co. by 11.1%, holding 208,877 shares valued at approximately $7.55 million as of the end of the first quarter.
• Brookfield Infrastructure recently declared a quarterly dividend of $0.43 per share, which translates to a 4.4% annual dividend yield. The payout ratio stands at 119.44%.
• Wall Street analysts downgraded Brookfield Infrastructure from a "buy" to a "hold" rating in a recent report, indicating a shift in market perception.

Swiss National Bank decreased its position in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 11.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 208,877 shares of the company's stock after selling 26,000 shares during the period. Swiss National Bank owned approximately 0.18% of Brookfield Infrastructure worth $7,549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in shares of Brookfield Infrastructure by 8.9% during the first quarter. Envestnet Asset Management Inc. now owns 904,535 shares of the company's stock valued at $32,729,000 after buying an additional 73,659 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Brookfield Infrastructure by 5.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 38,253 shares of the company's stock valued at $1,531,000 after buying an additional 1,906 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of Brookfield Infrastructure by 20.4% during the fourth quarter. Townsquare Capital LLC now owns 11,053 shares of the company's stock valued at $442,000 after buying an additional 1,870 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Brookfield Infrastructure during the first quarter valued at about $660,000. Finally, Cerity Partners LLC bought a new position in shares of Brookfield Infrastructure during the first quarter valued at about $280,000. 70.38% of the stock is owned by institutional investors.

Brookfield Infrastructure Stock Performance

Shares of NYSE BIPC traded down $0.09 during trading hours on Thursday, hitting $38.92. The company's stock had a trading volume of 465,430 shares, compared to its average volume of 645,167. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 27.03 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 business has a 50-day simple moving average of $40.80 and a 200-day simple moving average of $39.09.

Brookfield Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 annualized dividend and a dividend yield of 4.4%. Brookfield Infrastructure's dividend payout ratio (DPR) is presently 119.44%.

Wall Street Analyst Weigh In

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

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.