Truist Financial Corp Purchases Shares of 5,577 Brookfield Infrastructure Co. $BIPC

Key Points

• Truist Financial Corp has acquired 5,577 shares of Brookfield Infrastructure Co., valued at approximately $232,000, indicating growing institutional interest in the company.
• Brookfield Infrastructure announced a quarterly dividend of $0.43 per share, reflecting an annualized yield of 3.8% despite a high payout ratio of 119.44%.
• The stock is currently rated as "hold" by Wall Street analysts, with a consensus price target of $46.00, and has experienced a recent decline of 1.6% to open at $45.16.

Truist Financial Corp purchased a new stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,577 shares of the company's stock, valued at approximately $232,000.

Other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its holdings in Brookfield Infrastructure by 338.3% during the first quarter. Geneos Wealth Management Inc. now owns 710 shares of the company's stock valued at $26,000 after purchasing an additional 548 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Brookfield Infrastructure by 1,307.5% during the second quarter. Farther Finance Advisors LLC now owns 746 shares of the company's stock valued at $31,000 after purchasing an additional 693 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Brookfield Infrastructure during the first quarter valued at approximately $29,000. First PREMIER Bank purchased a new position in shares of Brookfield Infrastructure in the first quarter worth $30,000. Finally, Trust Co. of Vermont purchased a new position in shares of Brookfield Infrastructure in the first quarter worth $34,000. Hedge funds and other institutional investors own 70.38% of the company's stock.

Brookfield Infrastructure Stock Down 1.6%

Brookfield Infrastructure stock opened at $45.16 on Friday. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 31.36 and a beta of 1.45. The firm's fifty day moving average is $41.28 and its 200 day moving average is $39.94. Brookfield Infrastructure Co. has a 52-week low of $32.08 and a 52-week high of $47.71.

Brookfield Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a $0.43 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.8%. Brookfield Infrastructure's dividend payout ratio is presently 119.44%.

Analyst Ratings Changes

BIPC has been the topic of several research analyst reports. Wall Street Zen raised shares of Brookfield Infrastructure from a "sell" rating to a "hold" rating in a report on Friday, September 26th. Weiss Ratings reissued a "sell (d+)" rating on shares of Brookfield Infrastructure in a report on Tuesday, October 14th. Finally, Morgan Stanley boosted their target price on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target 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.

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