Brookfield Infrastructure Co. $BIPC Shares Purchased by Pinnacle Wealth Management Group Inc.

Pinnacle Wealth Management Group Inc. increased its holdings in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,619 shares of the company’s stock after acquiring an additional 500 shares during the period. Pinnacle Wealth Management Group Inc.’s holdings in Brookfield Infrastructure were worth $608,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its holdings in 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 acquiring an additional 548 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Brookfield Infrastructure during the first quarter worth $29,000. Farther Finance Advisors LLC grew its holdings 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 acquiring an additional 693 shares during the period. Trust Co. of Vermont acquired a new position in Brookfield Infrastructure during the first quarter worth $34,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Brookfield Infrastructure by 117.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,064 shares of the company’s stock worth $39,000 after acquiring an additional 574 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Brookfield Infrastructure Stock Down 0.5%

BIPC opened at $44.43 on Friday. The firm has a market cap of $5.29 billion, a P/E ratio of 30.85 and a beta of 1.45. Brookfield Infrastructure Co. has a 52 week low of $32.08 and a 52 week high of $47.71. The business’s fifty day simple moving average is $41.81 and its 200 day simple moving average is $40.27.

Brookfield Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.9%. Brookfield Infrastructure’s dividend payout ratio (DPR) is presently 119.44%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Infrastructure in a report on Tuesday, October 14th. Wall Street Zen raised Brookfield Infrastructure from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, Morgan Stanley upped their target price on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $46.00.

About Brookfield Infrastructure

Brookfield Infrastructure Corporation, together with its subsidiaries, owns and operates regulated natural gas transmission systems in Brazil. The company also engages in the regulated gas and electricity distribution operations in the United Kingdom; and electricity transmission and distribution, as well as gas distribution in Australia.