Envestnet Portfolio Solutions Inc. Takes Position in Brookfield Infrastructure Co. $BIPC

Envestnet Portfolio Solutions Inc. purchased a new stake in Brookfield Infrastructure Co. (NYSE:BIPC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,845 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its stake in shares of Brookfield Infrastructure by 338.3% in the first quarter. Geneos Wealth Management Inc. now owns 710 shares of the company’s stock worth $26,000 after buying an additional 548 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Brookfield Infrastructure in the first quarter worth about $29,000. Farther Finance Advisors LLC lifted its stake in shares of Brookfield Infrastructure by 1,307.5% in the second quarter. Farther Finance Advisors LLC now owns 746 shares of the company’s stock worth $31,000 after buying an additional 693 shares in the last quarter. Trust Co. of Vermont acquired a new position in shares of Brookfield Infrastructure during the 1st quarter valued at about $34,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Brookfield Infrastructure by 117.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,064 shares of the company’s stock valued at $39,000 after acquiring an additional 574 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Brookfield Infrastructure Price Performance

Shares of NYSE BIPC opened at $44.43 on Friday. The stock has a fifty day moving average price of $41.81 and a 200 day moving average price of $40.32. Brookfield Infrastructure Co. has a 1-year low of $32.08 and a 1-year high of $47.71. The company has a market cap of $5.29 billion, a PE ratio of 30.85 and a beta of 1.45.

Brookfield Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.9%.

Wall Street Analysts Forecast Growth

BIPC has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Infrastructure in a research report on Tuesday, October 14th. Wall Street Zen upgraded shares of Brookfield Infrastructure from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, Morgan Stanley boosted their price objective on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $46.00.

Brookfield Infrastructure Profile

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.