Envestnet Asset Management Inc. Has $40.66 Million Stock Position in Brookfield Infrastructure Co. $BIPC

Envestnet Asset Management Inc. lifted its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 988,792 shares of the company’s stock after buying an additional 30,696 shares during the period. Envestnet Asset Management Inc. owned about 0.83% of Brookfield Infrastructure worth $40,659,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Brookfield Infrastructure during the 2nd quarter worth $64,433,000. Bank of Montreal Can boosted its stake in shares of Brookfield Infrastructure by 9.1% during the second quarter. Bank of Montreal Can now owns 4,522,487 shares of the company’s stock valued at $188,293,000 after purchasing an additional 375,586 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Brookfield Infrastructure by 10,734.2% during the third quarter. Federated Hermes Inc. now owns 180,931 shares of the company’s stock worth $7,440,000 after purchasing an additional 179,261 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Brookfield Infrastructure by 36.1% in the third quarter. CIBC Asset Management Inc now owns 588,145 shares of the company’s stock valued at $24,185,000 after buying an additional 155,979 shares during the period. Finally, TD Waterhouse Canada Inc. raised its holdings in Brookfield Infrastructure by 9.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,250,781 shares of the company’s stock valued at $52,502,000 after buying an additional 112,230 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BIPC has been the topic of a number of research reports. Morgan Stanley set a $57.00 target price on shares of Brookfield Infrastructure in a report on Wednesday, January 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Monday, December 29th. Finally, Wall Street Zen raised Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $57.00.

Brookfield Infrastructure Price Performance

Shares of Brookfield Infrastructure stock opened at $50.58 on Wednesday. The stock’s 50-day moving average is $46.20 and its 200 day moving average is $43.77. Brookfield Infrastructure Co. has a one year low of $32.08 and a one year high of $50.87. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 30.85 and a beta of 1.36.

Brookfield Infrastructure Announces Dividend

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

Brookfield Infrastructure 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.