SCS Capital Management LLC Takes $9.62 Million Position in Brookfield Infrastructure Co. $BIPC

by · The Markets Daily

SCS Capital Management LLC acquired a new stake in Brookfield Infrastructure Co. (NYSE:BIPC – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 265,754 shares of the company’s stock, valued at approximately $9,618,000. SCS Capital Management LLC owned approximately 0.22% of Brookfield Infrastructure at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in BIPC. BNP Paribas Financial Markets bought a new stake in shares of Brookfield Infrastructure in the fourth quarter valued at about $840,000. Balyasny Asset Management L.P. raised its holdings in shares of Brookfield Infrastructure by 170.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 83,571 shares of the company’s stock valued at $3,346,000 after acquiring an additional 52,681 shares in the last quarter. Centiva Capital LP bought a new stake in shares of Brookfield Infrastructure in the fourth quarter valued at about $294,000. Cetera Investment Advisers raised its holdings in shares of Brookfield Infrastructure by 13.6% in the fourth quarter. Cetera Investment Advisers now owns 11,268 shares of the company’s stock valued at $433,000 after acquiring an additional 1,348 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Brookfield Infrastructure by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,326 shares of the company’s stock valued at $2,734,000 after acquiring an additional 2,680 shares in the last quarter. 70.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BIPC has been the subject of several recent research reports. Morgan Stanley boosted their price target on Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 26th. Wall Street Zen raised Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research report on Sunday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.00.

Get Our Latest Analysis on BIPC

Brookfield Infrastructure Trading Up 1.5%

BIPC opened at $40.50 on Tuesday. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 28.13 and a beta of 1.38. Brookfield Infrastructure Co. has a 12 month low of $32.08 and a 12 month high of $45.29. The stock has a fifty day moving average price of $40.56 and a 200-day moving average price of $38.93.

Brookfield Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Infrastructure’s dividend payout ratio is currently 119.44%.

Brookfield Infrastructure Profile

(Free Report)

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.

Further Reading

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