Brookfield Infrastructure (NYSE:BIPC) Reaches New 52-Week High – Should You Buy?

Brookfield Infrastructure Co. (NYSE:BIPC)’s share price hit a new 52-week high on Wednesday . The company traded as high as $49.31 and last traded at $48.74, with a volume of 637086 shares. The stock had previously closed at $48.81.

Analysts Set New Price Targets

BIPC has been the subject of a number of recent analyst reports. Morgan Stanley set a $57.00 price objective on Brookfield Infrastructure in a research 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 upgraded Brookfield Infrastructure from a “hold” rating to a “buy” rating in a 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 stock. According to MarketBeat, Brookfield Infrastructure has a consensus rating of “Reduce” and an average price target of $57.00.

Brookfield Infrastructure Stock Performance

The company has a market capitalization of $5.85 billion, a PE ratio of 30.85 and a beta of 1.37. The business has a fifty day moving average price of $45.79 and a 200 day moving average price of $43.49.

Brookfield Infrastructure Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were issued a $0.43 dividend. The ex-dividend date was Friday, November 28th. This represents a yield of 384.0%.

Institutional Investors Weigh In On Brookfield Infrastructure

Several large investors have recently made changes to their positions in the business. Chapman Financial Group LLC raised its stake in shares of Brookfield Infrastructure by 3.0% in the 4th quarter. Chapman Financial Group LLC now owns 8,946 shares of the company’s stock valued at $406,000 after acquiring an additional 260 shares during the period. Benjamin Edwards Inc. increased its holdings in Brookfield Infrastructure by 2.4% in the 4th quarter. Benjamin Edwards Inc. now owns 11,751 shares of the company’s stock valued at $534,000 after purchasing an additional 274 shares in the last quarter. Tranquility Partners LLC raised its position in Brookfield Infrastructure by 2.4% in the second quarter. Tranquility Partners LLC now owns 12,490 shares of the company’s stock valued at $520,000 after purchasing an additional 290 shares during the period. US Bancorp DE raised its position in Brookfield Infrastructure by 8.6% in the third quarter. US Bancorp DE now owns 4,136 shares of the company’s stock valued at $170,000 after purchasing an additional 326 shares during the period. Finally, Baskin Financial Services Inc. lifted its stake in shares of Brookfield Infrastructure by 0.9% during the third quarter. Baskin Financial Services Inc. now owns 35,495 shares of the company’s stock worth $1,457,000 after purchasing an additional 328 shares in the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

About Brookfield Infrastructure

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.