Firethorn Wealth Partners LLC Invests $200,000 in Brookfield Infrastructure Co. $BIPC

Firethorn Wealth Partners LLC purchased a new position in shares of Brookfield Infrastructure Co. (NYSE:BIPC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,813 shares of the company’s stock, valued at approximately $200,000.

Several other institutional investors have also modified their holdings of BIPC. Brown Advisory Inc. purchased a new stake in Brookfield Infrastructure in the 1st quarter valued at approximately $107,741,000. Nuveen LLC purchased a new stake in Brookfield Infrastructure in the 1st quarter valued at approximately $29,968,000. HighTower Advisors LLC lifted its stake in Brookfield Infrastructure by 85.8% in the 1st quarter. HighTower Advisors LLC now owns 1,378,035 shares of the company’s stock valued at $49,871,000 after buying an additional 636,353 shares in the last quarter. Ninety One UK Ltd purchased a new stake in Brookfield Infrastructure in the 2nd quarter valued at approximately $14,190,000. Finally, SCS Capital Management LLC purchased a new stake in Brookfield Infrastructure in the 1st quarter valued at approximately $9,618,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BIPC shares. Wall Street Zen raised Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research note 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 note on Tuesday, August 26th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Brookfield Infrastructure in a research note on Saturday, September 27th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Brookfield Infrastructure currently has a consensus rating of “Reduce” and an average price target of $46.00.

Brookfield Infrastructure Stock Up 1.7%

BIPC stock opened at $43.10 on Friday. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 29.93 and a beta of 1.45. The business has a fifty day simple moving average of $40.21 and a 200-day simple moving average of $39.33. Brookfield Infrastructure Co. has a 52 week low of $32.08 and a 52 week high of $45.29.

Brookfield Infrastructure Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, August 29th. Brookfield Infrastructure’s dividend payout ratio is presently 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.