Brookfield Infrastructure Co. $BIPC Shares Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its stake in Brookfield Infrastructure Co. (NYSE:BIPC) by 1.0% in the second quarter, HoldingsChannel.com reports. The fund owned 69,198 shares of the company’s stock after buying an additional 687 shares during the quarter. DAVENPORT & Co LLC’s holdings in Brookfield Infrastructure were worth $2,879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its stake in Brookfield Infrastructure by 2.7% in the first quarter. Principal Financial Group Inc. now owns 3,194,929 shares of the company’s stock valued at $115,624,000 after acquiring an additional 85,121 shares during the period. Brown Advisory Inc. bought a new stake in shares of Brookfield Infrastructure during the first quarter valued at approximately $107,741,000. Epoch Investment Partners Inc. raised its holdings in shares of Brookfield Infrastructure by 10.5% during the first quarter. Epoch Investment Partners Inc. now owns 1,797,568 shares of the company’s stock valued at $65,054,000 after buying an additional 171,427 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Brookfield Infrastructure by 85.8% during the first 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 during the last quarter. Finally, Scotia Capital Inc. raised its holdings in shares of Brookfield Infrastructure by 4.6% during the first quarter. Scotia Capital Inc. now owns 1,304,699 shares of the company’s stock valued at $46,272,000 after buying an additional 57,692 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BIPC has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, August 26th. Wall Street Zen raised Brookfield Infrastructure from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Brookfield Infrastructure in a report on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $46.00.

Brookfield Infrastructure Price Performance

Shares of NYSE:BIPC opened at $44.58 on Thursday. Brookfield Infrastructure Co. has a 12 month low of $32.08 and a 12 month high of $45.29. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 30.96 and a beta of 1.45. The stock’s 50 day moving average price is $40.40 and its 200 day moving average price is $39.48.

Brookfield Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.72 annualized dividend and a dividend yield of 3.9%. Brookfield Infrastructure’s dividend payout ratio is currently 119.44%.

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.