Ninety One UK Ltd Invests $14.19 Million in Brookfield Infrastructure Co. $BIPC

Ninety One UK Ltd bought a new position in shares of Brookfield Infrastructure Co. (NYSE:BIPC) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 341,102 shares of the company’s stock, valued at approximately $14,190,000.

Other large investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its stake in shares of Brookfield Infrastructure by 338.3% during the first quarter. Geneos Wealth Management Inc. now owns 710 shares of the company’s stock worth $26,000 after purchasing an additional 548 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Brookfield Infrastructure by 1,307.5% during the second quarter. Farther Finance Advisors LLC now owns 746 shares of the company’s stock worth $31,000 after purchasing an additional 693 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Brookfield Infrastructure during the first quarter worth approximately $29,000. First PREMIER Bank acquired a new stake in Brookfield Infrastructure during the first quarter worth approximately $30,000. Finally, Trust Co. of Vermont acquired a new stake in Brookfield Infrastructure during the first quarter worth approximately $34,000. Institutional investors own 70.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BIPC. Wall Street Zen raised Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Morgan Stanley increased their price target 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. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.00.

Brookfield Infrastructure Stock Performance

Shares of BIPC stock opened at $41.61 on Thursday. The stock’s fifty day moving average price is $40.17 and its two-hundred day moving average price is $39.20. The company has a market cap of $4.95 billion, a PE ratio of 28.90 and a beta of 1.38. Brookfield Infrastructure Co. has a fifty-two week low of $32.08 and a fifty-two week high of $45.29.

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 issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Infrastructure’s dividend payout ratio (DPR) is currently 119.44%.

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.