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

Brookfield Infrastructure Co. (NYSE:BIPC) hit a new 52-week high during trading on Tuesday . The stock traded as high as $50.64 and last traded at $50.59, with a volume of 104992 shares traded. The stock had previously closed at $49.90.

Analyst Ratings Changes

BIPC has been the subject of several research analyst reports. Wall Street Zen raised Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Brookfield Infrastructure in a report on Monday, December 29th. Finally, Morgan Stanley set a $57.00 price target on Brookfield Infrastructure in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $57.00.

Brookfield Infrastructure Stock Up 1.5%

The company has a market cap of $6.07 billion, a PE ratio of 30.85 and a beta of 1.36. The business’s fifty day moving average is $46.12 and its 200-day moving average is $43.71.

Brookfield Infrastructure Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Brookfield Infrastructure by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 6,022,513 shares of the company’s stock valued at $273,407,000 after buying an additional 31,529 shares in the last quarter. Bank of Montreal Can boosted its position in Brookfield Infrastructure by 6.1% during the third quarter. Bank of Montreal Can now owns 4,796,850 shares of the company’s stock valued at $197,246,000 after purchasing an additional 274,363 shares in the last quarter. Bank of America Corp DE raised its holdings in Brookfield Infrastructure by 10.3% in the third quarter. Bank of America Corp DE now owns 4,346,550 shares of the company’s stock worth $178,730,000 after purchasing an additional 406,485 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Brookfield Infrastructure by 2.1% during the 4th quarter. Principal Financial Group Inc. now owns 3,489,975 shares of the company’s stock worth $158,446,000 after acquiring an additional 71,814 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Brookfield Infrastructure by 2.3% in the 4th quarter. HighTower Advisors LLC now owns 2,592,739 shares of the company’s stock worth $117,710,000 after purchasing an additional 59,214 shares in the last quarter. Institutional investors 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.