Turn8 Private Wealth Inc. Acquires 21,554 Shares of 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. increased its holdings in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 45.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,489 shares of the company's stock after buying an additional 21,554 shares during the quarter. Turn8 Private Wealth Inc. owned 0.06% of Brookfield Infrastructure worth $2,511,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Tranquility Partners LLC lifted its holdings in shares of Brookfield Infrastructure by 3.0% in the first quarter. Tranquility Partners LLC now owns 12,200 shares of the company's stock worth $442,000 after acquiring an additional 352 shares during the last quarter. BankPlus Wealth Management LLC lifted its stake 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 valued at $378,000 after acquiring an additional 495 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake 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 valued at $26,000 after acquiring an additional 548 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in 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 during the last quarter. Finally, First Horizon Advisors Inc. raised its position in Brookfield Infrastructure by 104.1% in the first quarter. First Horizon Advisors Inc. now owns 1,198 shares of the company's stock valued at $43,000 after purchasing an additional 611 shares during the last quarter. Institutional investors own 70.38% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BIPC. Morgan Stanley raised their price objective on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, August 26th. Wall Street Zen downgraded Brookfield Infrastructure from a "hold" rating to a "sell" rating in a research report on Monday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $46.00.

Brookfield Infrastructure Price Performance

Shares of NYSE:BIPC traded down $0.13 during mid-day trading on Tuesday, hitting $40.36. The company had a trading volume of 105,080 shares, compared to its average volume of 633,228. Brookfield Infrastructure Co. has a one year low of $32.08 and a one year high of $45.29. The company has a market capitalization of $4.81 billion, a PE ratio of 28.03 and a beta of 1.38. The firm has a fifty day moving average price of $40.34 and a 200 day moving average price of $38.91.

Brookfield Infrastructure Announces Dividend

The business also recently disclosed 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. This represents a $1.72 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Infrastructure's payout ratio is currently 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.