Brookfield Infrastructure (NYSE:BIPC) Hits New 1-Year High – Time to Buy?

Shares of Brookfield Infrastructure Co. (NYSE:BIPC) reached a new 52-week high during trading on Thursday . The stock traded as high as $48.09 and last traded at $47.77, with a volume of 468825 shares changing hands. The stock had previously closed at $46.44.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wall Street Zen upgraded Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Morgan Stanley set a $57.00 price target on Brookfield Infrastructure in a report on Wednesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $57.00.

Brookfield Infrastructure Price Performance

The stock has a 50 day moving average price of $45.61 and a two-hundred day moving average price of $43.37. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 30.85 and a beta of 1.37.

Brookfield Infrastructure Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were paid a dividend of $0.43 per share. This represents a yield of 384.0%. The ex-dividend date of this dividend was Friday, November 28th.

Hedge Funds Weigh In On Brookfield Infrastructure

Several institutional investors have recently modified their holdings of the business. Truist Financial Corp purchased a new position in shares of Brookfield Infrastructure in the 2nd quarter valued at about $232,000. Belpointe Asset Management LLC acquired a new position in shares of Brookfield Infrastructure in the 2nd quarter valued at $235,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Brookfield Infrastructure in the 2nd quarter valued at $202,000. Farther Finance Advisors LLC grew its position in shares of Brookfield Infrastructure by 1,307.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 746 shares of the company’s stock valued at $31,000 after buying an additional 693 shares during the last quarter. Finally, Blair William & Co. IL acquired a new stake in Brookfield Infrastructure during the 2nd quarter worth $214,000. Institutional investors and hedge funds own 70.38% of the company’s stock.

Brookfield Infrastructure Company Profile

Brookfield Infrastructure (NYSE: BIPC) is a global owner, operator and investor in essential infrastructure assets. As the corporate class of Brookfield Infrastructure Partners L.P., the company provides exposure to a diversified portfolio spanning utilities, transport, energy midstream and data infrastructure. Its holdings generate stable cash flows underpinned by regulated or long-term contracted revenue streams.

Since its formation in 2008 and U.S. listing in 2017, Brookfield Infrastructure has pursued a disciplined strategy of acquiring and managing high-quality infrastructure businesses.