Truvestments Capital LLC Increases Holdings in Brookfield Infrastructure Co. $BIPC

Key Points

• Truvestments Capital LLC increased its holdings in Brookfield Infrastructure Co. by 42.5% during the first quarter, now owning approximately 0.09% of the company worth around $3.96 million.
• A recent quarterly dividend of $0.43 per share was announced, resulting in an annualized dividend yield of 4.3% and a payout ratio of 119.44%.
• Brookfield Infrastructure has received mixed ratings from analysts, with Morgan Stanley raising its target price to $46.00, while Wall Street Zen downgraded it from "buy" to "hold".

Truvestments Capital LLC increased its stake in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 42.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 109,491 shares of the company's stock after purchasing an additional 32,636 shares during the quarter. Truvestments Capital LLC owned about 0.09% of Brookfield Infrastructure worth $3,962,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BIPC. Caitong International Asset Management Co. Ltd purchased a new position in shares of Brookfield Infrastructure in the first quarter valued at $29,000. First PREMIER Bank purchased a new position in shares of Brookfield Infrastructure in the first quarter valued at $30,000. Trust Co. of Vermont purchased a new position in shares of Brookfield Infrastructure in the first quarter valued at $34,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Brookfield Infrastructure by 117.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,064 shares of the company's stock valued at $39,000 after purchasing an additional 574 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Brookfield Infrastructure by 104.1% during the first quarter. First Horizon Advisors Inc. now owns 1,198 shares of the company's stock valued at $43,000 after buying an additional 611 shares during the period. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Price Performance

Shares of NYSE:BIPC opened at $40.37 on Wednesday. Brookfield Infrastructure Co. has a 1 year low of $32.08 and a 1 year high of $45.29. The company has a market cap of $4.81 billion, a PE ratio of 28.03 and a beta of 1.39. The stock's 50-day moving average is $40.74 and its 200 day moving average is $39.04.

Brookfield Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.43 per share. 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 dividend payout ratio is 119.44%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wall Street Zen lowered Brookfield Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Morgan Stanley boosted their target price on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $46.00.

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.

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