Invesco Ltd. Purchases 19,887 Shares of Brookfield Infrastructure Co. $BIPC

Invesco Ltd. increased its holdings in Brookfield Infrastructure Co. (NYSE:BIPC) by 24.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,866 shares of the company’s stock after acquiring an additional 19,887 shares during the period. Invesco Ltd. owned about 0.09% of Brookfield Infrastructure worth $3,723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BIPC. Tranquility Partners LLC boosted its position in Brookfield Infrastructure by 3.0% in the first quarter. Tranquility Partners LLC now owns 12,200 shares of the company’s stock worth $442,000 after purchasing an additional 352 shares during the last quarter. BankPlus Wealth Management LLC raised its stake in shares of Brookfield Infrastructure by 5.0% during the 1st quarter. BankPlus Wealth Management LLC now owns 10,436 shares of the company’s stock worth $378,000 after purchasing an additional 495 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Brookfield Infrastructure by 104.1% in the 1st quarter. First Horizon Advisors Inc. now owns 1,198 shares of the company’s stock worth $43,000 after buying an additional 611 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Brookfield Infrastructure by 79.1% in the 1st quarter. Fifth Third Bancorp now owns 1,501 shares of the company’s stock worth $54,000 after buying an additional 663 shares during the last quarter. Finally, Addenda Capital Inc. grew its position in Brookfield Infrastructure by 5.1% during the first quarter. Addenda Capital Inc. now owns 14,580 shares of the company’s stock valued at $528,000 after buying an additional 710 shares during the period. 70.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BIPC has been the topic of several research reports. Wall Street Zen lowered shares of Brookfield Infrastructure from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. Morgan Stanley raised their price target on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.00.

Brookfield Infrastructure Stock Performance

Shares of Brookfield Infrastructure stock opened at $40.70 on Friday. The stock has a market capitalization of $4.85 billion, a P/E ratio of 28.26 and a beta of 1.39. Brookfield Infrastructure Co. has a 52-week low of $32.08 and a 52-week high of $45.29. The stock’s 50-day simple moving average is $40.75 and its 200 day simple moving average is $39.05.

Brookfield Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, August 29th. Brookfield Infrastructure’s dividend payout ratio is presently 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.