Brookfield Infrastructure (NYSE:BIPC) Upgraded by Wall Street Zen to Buy Rating

by · The Markets Daily

Wall Street Zen upgraded shares of Brookfield Infrastructure (NYSE:BIPC – Free Report) from a hold rating to a buy rating in a research report report published on Saturday morning.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Tuesday. Morgan Stanley set a $53.00 price objective on Brookfield Infrastructure and gave the company an “equal weight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $53.00.

Check Out Our Latest Stock Report on Brookfield Infrastructure

Brookfield Infrastructure Stock Performance

NYSE BIPC opened at $46.89 on Friday. The stock has a 50-day simple moving average of $44.91 and a 200 day simple moving average of $42.07. Brookfield Infrastructure has a twelve month low of $32.08 and a twelve month high of $47.71. The stock has a market capitalization of $5.58 billion, a PE ratio of 30.85 and a beta of 1.38.

Brookfield Infrastructure Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in Brookfield Infrastructure during the 2nd quarter valued at $64,433,000. HighTower Advisors LLC grew its holdings in shares of Brookfield Infrastructure by 66.4% during the third quarter. HighTower Advisors LLC now owns 2,533,525 shares of the company’s stock worth $104,178,000 after purchasing an additional 1,011,401 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Brookfield Infrastructure in the first quarter valued at $29,968,000. Bank of America Corp DE increased its stake in shares of Brookfield Infrastructure by 10.3% in the third quarter. Bank of America Corp DE now owns 4,346,550 shares of the company’s stock valued at $178,730,000 after buying an additional 406,485 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Brookfield Infrastructure by 9.1% in the second quarter. Bank of Montreal Can now owns 4,522,487 shares of the company’s stock valued at $188,293,000 after buying an additional 375,586 shares during the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Company Profile

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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.

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