Truist Financial Corp acquired a new position in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,192 shares of the company’s stock, valued at approximately $562,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of BIPC. CWM LLC increased its holdings in shares of Brookfield Infrastructure by 438.4% in the 4th quarter. CWM LLC now owns 856 shares of the company’s stock valued at $33,000 after purchasing an additional 697 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Brookfield Infrastructure in the 4th quarter valued at about $34,000. Money Concepts Capital Corp acquired a new position in shares of Brookfield Infrastructure in the 4th quarter valued at about $45,000. Federated Hermes Inc. increased its holdings in shares of Brookfield Infrastructure by 40.0% in the 1st quarter. Federated Hermes Inc. now owns 616 shares of the company’s stock valued at $46,000 after purchasing an additional 176 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Brookfield Infrastructure in the 1st quarter valued at about $82,000. Institutional investors and hedge funds own 70.67% of the company’s stock.
Analysts Set New Price Targets
Separately, Wells Fargo & Company dropped their target price on Brookfield Infrastructure from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, August 4th.
View Our Latest Analysis on BIPC
Brookfield Infrastructure Stock Performance
Shares of NASDAQ BIPC opened at $38.38 on Friday. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 26.65 and a beta of 1.19. The business has a 50 day simple moving average of $44.20 and a 200 day simple moving average of $44.56. Brookfield Infrastructure Co. has a 52 week low of $37.54 and a 52 week high of $50.03.
Brookfield Infrastructure Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be paid a $0.3825 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.53 annualized dividend and a dividend yield of 3.99%. Brookfield Infrastructure’s payout ratio is 106.25%.
Brookfield Infrastructure Company Profile
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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