TD Waterhouse Canada Inc. Sells 57,074 Shares of Brookfield Infrastructure Co. $BIPC

TD Waterhouse Canada Inc. lowered its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 4.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,193,707 shares of the company’s stock after selling 57,074 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Brookfield Infrastructure were worth $49,508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIPC. AQR Capital Management LLC acquired a new stake in shares of Brookfield Infrastructure during the 1st quarter worth $257,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Brookfield Infrastructure by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,451 shares of the company’s stock valued at $2,586,000 after purchasing an additional 3,125 shares in the last quarter. NewEdge Advisors LLC lifted its position in Brookfield Infrastructure by 285.9% during the first quarter. NewEdge Advisors LLC now owns 10,250 shares of the company’s stock worth $371,000 after purchasing an additional 7,594 shares during the period. Jones Financial Companies Lllp grew its stake in Brookfield Infrastructure by 752.7% during the first quarter. Jones Financial Companies Lllp now owns 9,431 shares of the company’s stock worth $341,000 after buying an additional 8,325 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Brookfield Infrastructure by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,808 shares of the company’s stock valued at $37,775,000 after buying an additional 18,648 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Price Performance

BIPC stock opened at $46.43 on Thursday. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 30.85 and a beta of 1.37. The company has a 50 day simple moving average of $45.45 and a 200 day simple moving average of $43.28. Brookfield Infrastructure Co. has a 1 year low of $32.08 and a 1 year high of $47.71.

Brookfield Infrastructure Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.