Brookfield Infrastructure (NYSE:BIPC) Reaches New 1-Year High – What’s Next?

Brookfield Infrastructure Co. (NYSE:BIPC)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $48.09 and last traded at $47.77, with a volume of 468825 shares trading hands. The stock had previously closed at $46.44.

Analyst Ratings Changes

A number of brokerages recently commented on BIPC. Morgan Stanley set a $57.00 price target on shares of Brookfield Infrastructure in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $57.00.

Brookfield Infrastructure Trading Up 4.8%

The stock has a market cap of $5.84 billion, a P/E ratio of 30.85 and a beta of 1.37. The stock has a 50 day simple moving average of $45.45 and a 200 day simple moving average of $43.28.

Brookfield Infrastructure Announces Dividend

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

Institutional Trading of Brookfield Infrastructure

Large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Brookfield Infrastructure during the 2nd quarter valued at approximately $64,433,000. HighTower Advisors LLC grew its holdings in shares of Brookfield Infrastructure by 66.4% during the third quarter. HighTower Advisors LLC now owns 2,533,525 shares of the company’s stock worth $104,178,000 after purchasing an additional 1,011,401 shares during the last quarter. Bank of America Corp DE raised its holdings in Brookfield Infrastructure by 10.3% in the 3rd quarter. Bank of America Corp DE now owns 4,346,550 shares of the company’s stock valued at $178,730,000 after buying an additional 406,485 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Brookfield Infrastructure by 9.1% during the second quarter. Bank of Montreal Can now owns 4,522,487 shares of the company’s stock worth $188,293,000 after purchasing an additional 375,586 shares during the period. Finally, Ninety One UK Ltd bought a new position in Brookfield Infrastructure during the 2nd quarter worth $14,190,000. 70.38% of the stock is owned by institutional investors and hedge funds.

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.