Turn8 Private Wealth Inc. Boosts Stock Position in Brookfield Infrastructure Co. $BIPC

Key Points

• Turn8 Private Wealth Inc. increased its stake in Brookfield Infrastructure Co. by 45% during the 1st quarter, now holding approximately $2.51 million worth of the stock.
• Several firms, including Brown Advisory Inc. and HighTower Advisors LLC, have also significantly adjusted their investments in Brookfield Infrastructure during the same period, indicating growing institutional interest.
• Analysts have set a new average price target of $46.00 for Brookfield Infrastructure shares, with Morgan Stanley upgrading their outlook from $45.00 to this new target.

Turn8 Private Wealth Inc. boosted its stake in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 45.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,489 shares of the company's stock after purchasing an additional 21,554 shares during the period. Turn8 Private Wealth Inc. owned about 0.06% of Brookfield Infrastructure worth $2,511,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Tranquility Partners LLC increased its stake in Brookfield Infrastructure by 3.0% in the 1st quarter. Tranquility Partners LLC now owns 12,200 shares of the company's stock worth $442,000 after purchasing an additional 352 shares during the period. BankPlus Wealth Management LLC grew its position in shares of Brookfield Infrastructure by 5.0% in the 1st quarter. BankPlus Wealth Management LLC now owns 10,436 shares of the company's stock worth $378,000 after buying an additional 495 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Brookfield Infrastructure by 338.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 710 shares of the company's stock worth $26,000 after buying an additional 548 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Brookfield Infrastructure by 117.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,064 shares of the company's stock worth $39,000 after buying an additional 574 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of Brookfield Infrastructure by 104.1% in the 1st quarter. First Horizon Advisors Inc. now owns 1,198 shares of the company's stock worth $43,000 after buying an additional 611 shares during the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BIPC has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Brookfield Infrastructure from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. Morgan Stanley lifted their price target on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 26th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $46.00.

Brookfield Infrastructure Trading Down 1.5%

Shares of BIPC stock traded down $0.61 on Friday, reaching $40.00. 384,249 shares of the company's stock were exchanged, compared to its average volume of 637,565. Brookfield Infrastructure Co. has a 52 week low of $32.08 and a 52 week high of $45.29. The stock has a market capitalization of $4.76 billion, a PE ratio of 27.78 and a beta of 1.38. The company's fifty day simple moving average is $40.38 and its 200 day simple moving average is $38.91.

Brookfield Infrastructure Dividend Announcement

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