Bank of New York Mellon Corp Trims Stake in Brookfield Infrastructure Co. (NASDAQ:BIPC)

Bank of New York Mellon Corp decreased its stake in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 305,093 shares of the company’s stock after selling 2,609 shares during the period. Bank of New York Mellon Corp owned 0.28% of Brookfield Infrastructure worth $14,053,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BIPC. Point72 Asset Management L.P. acquired a new stake in shares of Brookfield Infrastructure during the fourth quarter valued at $34,000. Money Concepts Capital Corp acquired a new stake in shares of Brookfield Infrastructure during the 4th quarter worth about $45,000. Federated Hermes Inc. grew its holdings in shares of Brookfield Infrastructure by 40.0% during the first quarter. Federated Hermes Inc. now owns 616 shares of the company’s stock worth $46,000 after buying an additional 176 shares in the last quarter. CWM LLC raised its position in shares of Brookfield Infrastructure by 40.5% in the first quarter. CWM LLC now owns 1,203 shares of the company’s stock valued at $55,000 after buying an additional 347 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Brookfield Infrastructure during the first quarter valued at approximately $82,000. Hedge funds and other institutional investors own 68.89% of the company’s stock.

Brookfield Infrastructure Trading Down 1.2 %

NASDAQ BIPC opened at $38.64 on Thursday. The business’s 50-day moving average price is $43.65 and its 200 day moving average price is $44.47. Brookfield Infrastructure Co. has a twelve month low of $37.54 and a twelve month high of $50.03. The company has a market capitalization of $4.28 billion, a PE ratio of 26.83 and a beta of 1.19.

Brookfield Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.3825 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.53 annualized dividend and a dividend yield of 3.96%. Brookfield Infrastructure’s payout ratio is currently 106.25%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company cut their price target on Brookfield Infrastructure from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, August 4th.

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.