Brookfield Infrastructure (NYSE:BIPC) Hits New 12-Month High – What’s Next?

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley set a $57.00 target price on shares of Brookfield Infrastructure in a research report on Wednesday, January 28th. Wall Street Zen raised Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $57.00.

Brookfield Infrastructure Trading Down 0.1%

The business has a 50 day moving average of $45.79 and a 200-day moving average of $43.49. The stock has a market cap of $5.85 billion, a PE ratio of 30.85 and a beta of 1.37.

Brookfield Infrastructure Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. City Holding Co. acquired a new stake in shares of Brookfield Infrastructure during the 3rd quarter worth about $25,000. Geneos Wealth Management Inc. lifted its stake in shares of Brookfield Infrastructure by 338.3% during the first quarter. Geneos Wealth Management Inc. now owns 710 shares of the company’s stock valued at $26,000 after buying an additional 548 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Brookfield Infrastructure by 1,307.5% during the second quarter. Farther Finance Advisors LLC now owns 746 shares of the company’s stock valued at $31,000 after buying an additional 693 shares during the period. Smartleaf Asset Management LLC boosted its position in Brookfield Infrastructure by 374.9% during the third quarter. Smartleaf Asset Management LLC now owns 812 shares of the company’s stock worth $34,000 after acquiring an additional 641 shares during the last quarter. Finally, Parvin Asset Management LLC purchased a new stake in Brookfield Infrastructure in the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 70.38% of the company’s stock.

Brookfield Infrastructure Company Profile

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.