Griffin Asset Management Inc. Takes Position in Brookfield Infrastructure Co. $BIPC

Griffin Asset Management Inc. purchased a new stake in Brookfield Infrastructure Co. (NYSE:BIPC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,089 shares of the company’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC increased its position in Brookfield Infrastructure by 14.5% during the 2nd quarter. CWM LLC now owns 3,700 shares of the company’s stock valued at $154,000 after purchasing an additional 468 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Brookfield Infrastructure by 2.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,964 shares of the company’s stock worth $706,000 after buying an additional 435 shares during the period. Tranquility Partners LLC increased its position in shares of Brookfield Infrastructure by 2.4% during the second quarter. Tranquility Partners LLC now owns 12,490 shares of the company’s stock worth $520,000 after buying an additional 290 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of Brookfield Infrastructure by 28.5% during the second quarter. Concurrent Investment Advisors LLC now owns 24,420 shares of the company’s stock worth $1,016,000 after buying an additional 5,413 shares during the period. Finally, Comprehensive Money Management Services LLC increased its position in shares of Brookfield Infrastructure by 2.7% during the second quarter. Comprehensive Money Management Services LLC now owns 30,643 shares of the company’s stock worth $1,275,000 after buying an additional 812 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Brookfield Infrastructure Price Performance

Shares of BIPC opened at $45.67 on Tuesday. Brookfield Infrastructure Co. has a one year low of $32.08 and a one year high of $46.15. The stock has a 50-day moving average of $40.76 and a 200-day moving average of $39.71. The company has a market cap of $5.44 billion, a PE ratio of 31.72 and a beta of 1.45.

Brookfield Infrastructure Announces Dividend

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

Analysts Set New Price Targets

BIPC has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Brookfield Infrastructure from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Brookfield Infrastructure in a report on Saturday, September 27th. Finally, Morgan Stanley boosted their price target on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $46.00.

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.