Financial Advocates Investment Management raised its holdings in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) by 129.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 7,050 shares of the company’s stock after purchasing an additional 3,984 shares during the period. Financial Advocates Investment Management’s holdings in Brookfield Infrastructure were worth $422,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its position in shares of Brookfield Infrastructure by 28.3% in the 2nd quarter. FMR LLC now owns 2,860,472 shares of the company’s stock worth $215,679,000 after buying an additional 630,234 shares during the last quarter. BlackRock Inc. grew its position in shares of Brookfield Infrastructure by 18.6% in the 2nd quarter. BlackRock Inc. now owns 2,010,034 shares of the company’s stock worth $151,556,000 after buying an additional 315,461 shares during the last quarter. Confluence Investment Management LLC grew its position in shares of Brookfield Infrastructure by 65.9% in the 3rd quarter. Confluence Investment Management LLC now owns 1,718,221 shares of the company’s stock worth $102,887,000 after buying an additional 682,318 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Brookfield Infrastructure by 12.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,280,749 shares of the company’s stock worth $96,569,000 after buying an additional 140,234 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Brookfield Infrastructure by 3.8% in the 2nd quarter. Bank of Montreal Can now owns 728,354 shares of the company’s stock worth $53,177,000 after purchasing an additional 26,481 shares in the last quarter.
BIPC stock opened at $68.26 on Friday. The firm has a 50 day moving average of $62.88 and a 200 day moving average of $64.75. The stock has a market capitalization of $5.01 billion and a PE ratio of 47.35. Brookfield Infrastructure Co. has a 52 week low of $56.89 and a 52 week high of $80.60.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Tuesday, November 30th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Monday, November 29th. Brookfield Infrastructure’s payout ratio is 141.67%.
Separately, Wells Fargo & Company lowered their target price on shares of Brookfield Infrastructure from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, October 13th.
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. It operates approximately 2,000 kilometers of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; and 3.6 million gas and electricity connections and 1.5 million installed smart meters in the United Kingdom.
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