Chicago Partners Investment Group LLC Reduces Stock Position in Brookfield Infrastructure Co. $BIPC

Chicago Partners Investment Group LLC lessened its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,716 shares of the company’s stock after selling 740 shares during the quarter. Chicago Partners Investment Group LLC owned approximately 0.05% of Brookfield Infrastructure worth $2,552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIPC. Geneos Wealth Management Inc. increased its position in Brookfield Infrastructure by 338.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 710 shares of the company’s stock worth $26,000 after purchasing an additional 548 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Brookfield Infrastructure during the 1st quarter worth about $29,000. First PREMIER Bank purchased a new stake in Brookfield Infrastructure during the 1st quarter worth about $30,000. Farther Finance Advisors LLC increased its position in Brookfield Infrastructure by 1,307.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 746 shares of the company’s stock worth $31,000 after purchasing an additional 693 shares in the last quarter. Finally, Trust Co. of Vermont purchased a new stake in Brookfield Infrastructure during the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Stock Performance

Shares of NYSE:BIPC opened at $45.16 on Monday. Brookfield Infrastructure Co. has a 1 year low of $32.08 and a 1 year high of $47.71. The stock has a market capitalization of $5.38 billion, a P/E ratio of 31.36 and a beta of 1.45. The stock has a 50-day simple moving average of $41.28 and a 200-day simple moving average of $39.96.

Brookfield Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a dividend of $0.43 per share. The ex-dividend date was Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.8%. Brookfield Infrastructure’s payout ratio is presently 119.44%.

Analyst Ratings Changes

Several research firms have commented on BIPC. Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Infrastructure in a report on Tuesday, October 14th. Wall Street Zen upgraded Brookfield Infrastructure from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, Morgan Stanley lifted their price target on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $46.00.

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.