CHURCHILL MANAGEMENT Corp raised its stake in Brookfield Infrastructure Co. (NYSE:BIPC – Free Report) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 286,303 shares of the company’s stock after acquiring an additional 3,846 shares during the period. CHURCHILL MANAGEMENT Corp owned approximately 0.24% of Brookfield Infrastructure worth $11,910,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Millennium Management LLC purchased a new stake in Brookfield Infrastructure during the 4th quarter valued at about $396,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Brookfield Infrastructure by 23.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,765 shares of the company’s stock worth $831,000 after buying an additional 3,933 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Brookfield Infrastructure during the first quarter valued at approximately $660,000. NBC Securities Inc. increased its position in shares of Brookfield Infrastructure by 113,633.3% during the first quarter. NBC Securities Inc. now owns 3,412 shares of the company’s stock valued at $123,000 after acquiring an additional 3,409 shares in the last quarter. Finally, Procyon Advisors LLC raised its holdings in Brookfield Infrastructure by 16.8% in the 1st quarter. Procyon Advisors LLC now owns 35,245 shares of the company’s stock worth $1,276,000 after acquiring an additional 5,067 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.
Wall Street Analysts Forecast Growth
BIPC has been the topic of several recent analyst reports. Wall Street Zen upgraded Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Morgan Stanley increased their price objective 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 investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.00.
Brookfield Infrastructure Price Performance
NYSE BIPC opened at $41.61 on Thursday. Brookfield Infrastructure Co. has a 1-year low of $32.08 and a 1-year high of $45.29. The business’s fifty day moving average price is $40.17 and its 200-day moving average price is $39.20. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 28.90 and a beta of 1.38.
Brookfield Infrastructure Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.1%. Brookfield Infrastructure’s dividend payout ratio (DPR) 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.
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