Brookfield Infrastructure (NYSE:BIPC) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Brookfield Infrastructure (NYSE:BIPC) from a buy rating to a hold rating in a report published on Saturday.

Brookfield Infrastructure Stock Up 0.3%

BIPC stock opened at $38.83 on Friday. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 26.97 and a beta of 1.39. The business has a fifty day simple moving average of $40.95 and a 200-day simple moving average of $39.11. Brookfield Infrastructure has a 52 week low of $32.08 and a 52 week high of $45.29.

Brookfield Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Friday, August 29th. Brookfield Infrastructure’s dividend payout ratio (DPR) is 119.44%.

Hedge Funds Weigh In On Brookfield Infrastructure

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. increased its position in shares of Brookfield Infrastructure by 338.3% in the first quarter. Geneos Wealth Management Inc. now owns 710 shares of the company’s stock worth $26,000 after acquiring an additional 548 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Brookfield Infrastructure in the 1st quarter valued at $29,000. First PREMIER Bank purchased a new position in Brookfield Infrastructure in the first quarter valued at about $30,000. Farther Finance Advisors LLC raised its position in Brookfield Infrastructure by 1,307.5% in the second quarter. Farther Finance Advisors LLC now owns 746 shares of the company’s stock valued at $31,000 after purchasing an additional 693 shares during the period. Finally, Trust Co. of Vermont purchased a new stake in shares of Brookfield Infrastructure in the first quarter worth about $34,000. 70.38% of the stock is owned by institutional investors and hedge funds.

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.