Brookfield Infrastructure Co. $BIPC Shares Purchased by Truvestments Capital LLC

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 grew its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 42.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,491 shares of the company's stock after purchasing an additional 32,636 shares during the period. Truvestments Capital LLC owned approximately 0.09% of Brookfield Infrastructure worth $3,962,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in BIPC. NewEdge Advisors LLC boosted its position in shares of Brookfield Infrastructure by 343.4% during the 4th quarter. NewEdge Advisors LLC now owns 2,656 shares of the company's stock worth $106,000 after purchasing an additional 2,057 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Brookfield Infrastructure during the 4th quarter worth $1,274,000. Stifel Financial Corp boosted its position in shares of Brookfield Infrastructure by 5.4% during the 4th quarter. Stifel Financial Corp now owns 159,876 shares of the company's stock worth $6,397,000 after purchasing an additional 8,173 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Brookfield Infrastructure by 20.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,145 shares of the company's stock worth $1,887,000 after purchasing an additional 7,922 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Brookfield Infrastructure by 9.0% during the 4th quarter. Northern Trust Corp now owns 975,969 shares of the company's stock worth $39,049,000 after purchasing an additional 80,476 shares in the last quarter. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Stock Down 1.0%

Shares of Brookfield Infrastructure stock traded down $0.40 on Monday, hitting $40.32. The company's stock had a trading volume of 1,072,197 shares, compared to its average volume of 644,063. Brookfield Infrastructure Co. has a 52-week low of $32.08 and a 52-week high of $45.29. The firm has a fifty day moving average price of $40.74 and a 200-day moving average price of $39.02. The company has a market capitalization of $4.80 billion, a P/E ratio of 28.00 and a beta of 1.38.

Brookfield Infrastructure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a $0.43 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.72 annualized dividend and a dividend yield of 4.3%. Brookfield Infrastructure's payout ratio is currently 119.44%.

Analyst Upgrades and Downgrades

Several brokerages have commented on BIPC. 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 research report on Tuesday, August 26th. Wall Street Zen lowered shares of Brookfield Infrastructure from a "hold" rating to a "sell" rating in a research report on Saturday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and a consensus 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.