Harbor Capital Advisors Inc. boosted its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC – Free Report) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,266 shares of the company’s stock after acquiring an additional 364 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Brookfield Infrastructure were worth $2,049,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in Brookfield Infrastructure by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 3,194,929 shares of the company’s stock worth $115,624,000 after acquiring an additional 85,121 shares during the last quarter. Brown Advisory Inc. acquired a new position in Brookfield Infrastructure during the 1st quarter valued at about $107,741,000. Epoch Investment Partners Inc. lifted its position in Brookfield Infrastructure by 10.5% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,797,568 shares of the company’s stock valued at $65,054,000 after purchasing an additional 171,427 shares during the period. HighTower Advisors LLC lifted its position in Brookfield Infrastructure by 85.8% during the 1st quarter. HighTower Advisors LLC now owns 1,378,035 shares of the company’s stock valued at $49,871,000 after purchasing an additional 636,353 shares during the period. Finally, Scotia Capital Inc. lifted its position in Brookfield Infrastructure by 4.6% during the 1st quarter. Scotia Capital Inc. now owns 1,304,699 shares of the company’s stock valued at $46,272,000 after purchasing an additional 57,692 shares during the period. Institutional investors own 70.38% of the company’s stock.
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Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 26th. Wall Street Zen downgraded shares of Brookfield Infrastructure from a “hold” rating to a “sell” rating in a research report on Monday. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Brookfield Infrastructure currently has an average rating of “Hold” and an average target price of $46.00.
Read Our Latest Stock Analysis on Brookfield Infrastructure
Brookfield Infrastructure Stock Performance
Shares of BIPC stock opened at $40.38 on Thursday. The company has a market capitalization of $4.81 billion, a P/E ratio of 28.04 and a beta of 1.38. The company’s 50 day moving average price is $40.30 and its two-hundred day moving average price is $38.93. Brookfield Infrastructure Co. has a 52 week low of $32.08 and a 52 week high of $45.29.
Brookfield Infrastructure Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders 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 dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Infrastructure’s dividend payout ratio (DPR) is currently 119.44%.
Brookfield Infrastructure Company Profile
(Free Report)
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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