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Envestnet Asset Management Inc. lifted its stake in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC – Get Rating) by 4.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,046 shares of the company’s stock after buying an additional 2,141 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Brookfield Infrastructure worth $4,002,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sigma Planning Corp grew its position in shares of Brookfield Infrastructure by 1.3% during the first quarter. Sigma Planning Corp now owns 13,721 shares of the company’s stock worth $1,035,000 after buying an additional 181 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Brookfield Infrastructure by 1.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 16,570 shares of the company’s stock worth $1,132,000 after buying an additional 184 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Brookfield Infrastructure by 10.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,859 shares of the company’s stock worth $199,000 after buying an additional 259 shares in the last quarter. Karpas Strategies LLC grew its position in shares of Brookfield Infrastructure by 1.1% during the first quarter. Karpas Strategies LLC now owns 27,998 shares of the company’s stock worth $2,112,000 after buying an additional 300 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. grew its position in shares of Brookfield Infrastructure by 6.5% during the first quarter. Total Clarity Wealth Management Inc. now owns 5,430 shares of the company’s stock worth $410,000 after buying an additional 330 shares in the last quarter.
Brookfield Infrastructure Stock Up 0.5 %
Shares of BIPC opened at $47.89 on Friday. The stock has a 50 day moving average price of $43.87 and a 200 day moving average price of $46.32. The company has a market capitalization of $5.29 billion and a price-to-earnings ratio of 33.26. Brookfield Infrastructure Co. has a 52-week low of $37.93 and a 52-week high of $53.64.
Brookfield Infrastructure Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, August 31st will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Tuesday, August 30th. Brookfield Infrastructure’s dividend payout ratio (DPR) is 100.00%.
Analysts Set New Price Targets
Separately, Wells Fargo & Company boosted their price objective on Brookfield Infrastructure from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, August 4th.
About Brookfield Infrastructure
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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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