Thrivent Financial for Lutherans Grows Stock Position in Brookfield Infrastructure Co. $BIPC

Thrivent Financial for Lutherans boosted its holdings in Brookfield Infrastructure Co. (NYSE:BIPC) by 220.6% during the second quarter, Holdings Channel reports. The institutional investor owned 131,209 shares of the company’s stock after buying an additional 90,288 shares during the period. Thrivent Financial for Lutherans’ holdings in Brookfield Infrastructure were worth $5,458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its holdings in shares of Brookfield Infrastructure by 338.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 710 shares of the company’s stock worth $26,000 after acquiring an additional 548 shares during the period. Farther Finance Advisors LLC raised its stake in Brookfield Infrastructure by 1,307.5% during the second quarter. Farther Finance Advisors LLC now owns 746 shares of the company’s stock worth $31,000 after purchasing an additional 693 shares during the period. Parvin Asset Management LLC acquired a new position in shares of Brookfield Infrastructure in the 2nd quarter valued at $36,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Brookfield Infrastructure by 117.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,064 shares of the company’s stock valued at $39,000 after buying an additional 574 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in shares of Brookfield Infrastructure by 96.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,120 shares of the company’s stock valued at $47,000 after buying an additional 551 shares during the period. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Analyst Ratings Changes

BIPC has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Brookfield Infrastructure in a report on Monday. 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, December 2nd. Finally, Wall Street Zen upgraded Brookfield Infrastructure from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Brookfield Infrastructure presently has an average rating of “Reduce” and a consensus target price of $53.00.

Brookfield Infrastructure Price Performance

Shares of BIPC opened at $46.03 on Friday. Brookfield Infrastructure Co. has a 12 month low of $32.08 and a 12 month high of $47.71. The stock’s 50-day moving average is $45.45 and its two-hundred day moving average is $42.51. The stock has a market cap of $5.48 billion, a PE ratio of 30.85 and a beta of 1.38.

Brookfield Infrastructure Dividend Announcement

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

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.