Thrivent Financial for Lutherans Increases Stake in Brookfield Infrastructure Co. $BIPC

Thrivent Financial for Lutherans grew its position in Brookfield Infrastructure Co. (NYSE:BIPC) by 220.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,209 shares of the company’s stock after acquiring an additional 90,288 shares during the period. Thrivent Financial for Lutherans owned about 0.11% of Brookfield Infrastructure worth $5,458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC purchased a new stake in shares of Brookfield Infrastructure in the second quarter valued at approximately $214,000. Tower Research Capital LLC TRC lifted its holdings in Brookfield Infrastructure by 77.2% in the second quarter. Tower Research Capital LLC TRC now owns 20,975 shares of the company’s stock valued at $873,000 after acquiring an additional 9,139 shares during the period. Corient Private Wealth LLC acquired a new stake in Brookfield Infrastructure in the second quarter valued at $462,000. Chapman Financial Group LLC purchased a new stake in shares of Brookfield Infrastructure during the 2nd quarter worth $357,000. Finally, Tidal Investments LLC acquired a new position in shares of Brookfield Infrastructure during the 2nd quarter worth $665,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on BIPC. Morgan Stanley set a $53.00 price objective on shares of Brookfield Infrastructure and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Monday. Finally, Wall Street Zen raised Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $53.00.

Brookfield Infrastructure Price Performance

Shares of BIPC opened at $46.03 on Friday. The firm has a 50 day simple moving average of $45.45 and a 200-day simple moving average of $42.51. Brookfield Infrastructure Co. has a 1-year low of $32.08 and a 1-year high of $47.71. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 30.85 and a beta of 1.38.

Brookfield Infrastructure Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a yield of 384.0%.

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.