HighTower Advisors LLC Raises Stock Position in Brookfield Infrastructure Co. $BIPC

HighTower Advisors LLC raised its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 66.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,533,525 shares of the company’s stock after purchasing an additional 1,011,401 shares during the period. HighTower Advisors LLC owned 2.13% of Brookfield Infrastructure worth $104,178,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Baskin Financial Services Inc. lifted its stake in Brookfield Infrastructure by 0.9% in the 3rd quarter. Baskin Financial Services Inc. now owns 35,495 shares of the company’s stock valued at $1,457,000 after buying an additional 328 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Brookfield Infrastructure by 1.0% during the second quarter. Rockefeller Capital Management L.P. now owns 36,773 shares of the company’s stock valued at $1,530,000 after acquiring an additional 350 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Brookfield Infrastructure by 1.3% in the third quarter. International Assets Investment Management LLC now owns 31,914 shares of the company’s stock valued at $1,343,000 after acquiring an additional 400 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Brookfield Infrastructure by 1.9% in the second quarter. PNC Financial Services Group Inc. now owns 21,926 shares of the company’s stock worth $912,000 after acquiring an additional 405 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Brookfield Infrastructure by 3.0% during the second quarter. Franklin Resources Inc. now owns 14,336 shares of the company’s stock worth $597,000 after purchasing an additional 420 shares in the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Stock Performance

Shares of Brookfield Infrastructure stock opened at $49.55 on Monday. The stock has a 50 day moving average of $46.40 and a 200 day moving average of $43.96. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 30.85 and a beta of 1.36. Brookfield Infrastructure Co. has a fifty-two week low of $32.08 and a fifty-two week high of $51.72.

Brookfield Infrastructure Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were given a dividend of $0.43 per share. This represents a dividend yield of 384.0%. The ex-dividend date of this dividend was Friday, November 28th.

Analyst Ratings Changes

BIPC has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Brookfield Infrastructure in a report on Monday, December 29th. Wall Street Zen raised shares of Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, Morgan Stanley set a $57.00 target price on shares of Brookfield Infrastructure in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $57.00.

Brookfield Infrastructure Company Profile

Brookfield Infrastructure (NYSE: BIPC) is a global owner, operator and investor in essential infrastructure assets. As the corporate class of Brookfield Infrastructure Partners L.P., the company provides exposure to a diversified portfolio spanning utilities, transport, energy midstream and data infrastructure. Its holdings generate stable cash flows underpinned by regulated or long-term contracted revenue streams.

Since its formation in 2008 and U.S. listing in 2017, Brookfield Infrastructure has pursued a disciplined strategy of acquiring and managing high-quality infrastructure businesses.