Baskin Financial Services Inc. Buys 541 Shares of Brookfield Infrastructure Co. $BIPC

Baskin Financial Services Inc. increased its stake in Brookfield Infrastructure Co. (NYSE:BIPC) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,167 shares of the company’s stock after buying an additional 541 shares during the quarter. Baskin Financial Services Inc.’s holdings in Brookfield Infrastructure were worth $1,463,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BIPC. Brown Advisory Inc. bought a new stake in Brookfield Infrastructure in the first quarter worth $107,741,000. Nuveen LLC bought a new stake in shares of Brookfield Infrastructure during the first quarter worth $29,968,000. HighTower Advisors LLC lifted its position in shares of Brookfield Infrastructure by 85.8% during the first quarter. HighTower Advisors LLC now owns 1,378,035 shares of the company’s stock worth $49,871,000 after purchasing an additional 636,353 shares during the last quarter. Ninety One UK Ltd bought a new stake in shares of Brookfield Infrastructure during the second quarter worth $14,190,000. Finally, SCS Capital Management LLC bought a new stake in shares of Brookfield Infrastructure during the first quarter worth $9,618,000. 70.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BIPC. Wall Street Zen upgraded Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Morgan Stanley lifted their target price on Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 26th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Brookfield Infrastructure in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $46.00.

Brookfield Infrastructure Trading Down 1.5%

Shares of Brookfield Infrastructure stock opened at $43.93 on Friday. The firm has a market cap of $5.23 billion, a P/E ratio of 30.51 and a beta of 1.45. Brookfield Infrastructure Co. has a 12 month low of $32.08 and a 12 month high of $45.29. The stock’s fifty day moving average price is $40.50 and its 200-day moving average price is $39.54.

Brookfield Infrastructure Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a dividend of $0.43 per share. The ex-dividend date was Friday, August 29th. This represents a $1.72 annualized dividend and a dividend yield of 3.9%. Brookfield Infrastructure’s dividend payout ratio (DPR) 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.