Tranquility Partners LLC Acquires 290 Shares of Brookfield Infrastructure Co. $BIPC

Tranquility Partners LLC raised its holdings in Brookfield Infrastructure Co. (NYSE:BIPC) by 2.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 12,490 shares of the company’s stock after purchasing an additional 290 shares during the quarter. Tranquility Partners LLC’s holdings in Brookfield Infrastructure were worth $520,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BIPC. GAMMA Investing LLC bought a new stake in shares of Brookfield Infrastructure during the first quarter worth $660,000. Fifth Third Bancorp raised its position in shares of Brookfield Infrastructure by 79.1% during the first quarter. Fifth Third Bancorp now owns 1,501 shares of the company’s stock worth $54,000 after acquiring an additional 663 shares during the last quarter. Canton Hathaway LLC bought a new stake in shares of Brookfield Infrastructure during the first quarter worth $109,000. First PREMIER Bank bought a new stake in shares of Brookfield Infrastructure during the first quarter worth $30,000. Finally, Comprehensive Money Management Services LLC raised its position in shares of Brookfield Infrastructure by 9.6% during the first quarter. Comprehensive Money Management Services LLC now owns 29,831 shares of the company’s stock worth $1,080,000 after acquiring an additional 2,605 shares during the last quarter. Institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Trading Up 3.0%

NYSE:BIPC opened at $45.22 on Friday. Brookfield Infrastructure Co. has a 1 year low of $32.08 and a 1 year high of $45.42. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 31.40 and a beta of 1.45. The stock has a 50-day moving average price of $40.63 and a two-hundred day moving average price of $39.62.

Brookfield Infrastructure Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BIPC shares. Weiss Ratings restated a “sell (d)” rating on shares of Brookfield Infrastructure in a research report on Saturday, September 27th. Morgan Stanley boosted 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, Wall Street Zen upgraded Brookfield Infrastructure from a “sell” rating to a “hold” rating in a report on Friday, September 26th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Brookfield Infrastructure has a consensus rating of “Reduce” and a consensus 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.