Envestnet Asset Management Inc. Has $40.66 Million Stock Position in Brookfield Infrastructure Co. $BIPC

Envestnet Asset Management Inc. lifted its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 3.2% during the third quarter, Holdings Channel.com reports. The firm owned 988,792 shares of the company’s stock after acquiring an additional 30,696 shares during the period. Envestnet Asset Management Inc.’s holdings in Brookfield Infrastructure were worth $40,659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BIPC. City Holding Co. bought a new position in Brookfield Infrastructure in the third quarter worth approximately $25,000. Geneos Wealth Management Inc. raised its position 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 worth $26,000 after purchasing an additional 548 shares during the period. Parvin Asset Management LLC acquired a new position in shares of Brookfield Infrastructure during the second quarter worth approximately $36,000. Citizens National Bank Trust Department bought a new position in shares of Brookfield Infrastructure in the 3rd quarter worth $41,000. Finally, GAMMA Investing LLC grew its position in Brookfield Infrastructure by 107.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,119 shares of the company’s stock valued at $46,000 after purchasing an additional 580 shares during the period. 70.38% of the stock is owned by institutional investors.

Brookfield Infrastructure Trading Up 1.4%

Brookfield Infrastructure stock opened at $50.58 on Wednesday. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 30.85 and a beta of 1.36. Brookfield Infrastructure Co. has a 1-year low of $32.08 and a 1-year high of $50.87. The firm has a 50 day simple moving average of $46.20 and a 200 day simple moving average of $43.77.

Brookfield Infrastructure Dividend Announcement

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

Analyst Ratings Changes

Several research firms have weighed in on BIPC. Wall Street Zen upgraded shares of Brookfield Infrastructure from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Morgan Stanley set a $57.00 price objective on shares of Brookfield Infrastructure in a research note on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target 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.