Brookfield Infrastructure (NASDAQ:BIPC) Raised to “Hold” at Zacks Investment Research


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Zacks Investment Research upgraded shares of Brookfield Infrastructure (NASDAQ:BIPC) from a strong sell rating to a hold rating in a research report released on Monday, Zacks.com reports.

Other research analysts also recently issued reports about the company. Wells Fargo & Company downgraded Brookfield Infrastructure from an overweight rating to an equal weight rating and boosted their price objective for the company from $70.00 to $72.00 in a research note on Wednesday, January 6th. BidaskClub downgraded Brookfield Infrastructure from a strong-buy rating to a buy rating in a research note on Thursday, January 7th.

Shares of NASDAQ:BIPC opened at $67.02 on Monday. The stock has a 50 day moving average of $68.85 and a 200 day moving average of $57.21. The company has a market cap of $3.01 billion and a PE ratio of 46.54. Brookfield Infrastructure has a 12-month low of $32.54 and a 12-month high of $74.60.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 31st. Investors of record on Monday, November 30th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, November 27th. This represents a $1.94 annualized dividend and a yield of 2.89%. Brookfield Infrastructure’s payout ratio is presently 134.72%.

Large investors have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. raised its holdings in Brookfield Infrastructure by 397.3% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 552 shares of the company’s stock valued at $31,000 after buying an additional 441 shares during the period. Summit X LLC bought a new position in Brookfield Infrastructure in the 3rd quarter valued at $66,000. Private Advisor Group LLC bought a new position in Brookfield Infrastructure in the 2nd quarter valued at $44,000. Nisa Investment Advisors LLC bought a new position in Brookfield Infrastructure in the 3rd quarter valued at $75,000. Finally, State of Alaska Department of Revenue bought a new position in Brookfield Infrastructure in the 3rd quarter valued at $144,000.

About Brookfield Infrastructure

Brookfield Infrastructure Corporation engages in the ownership and operation of regulated gas transmission systems in Brazil. It also engages in the regulated distribution operations in the United Kingdom. The company was founded in 2019 and is headquartered in New York, New York. Brookfield Infrastructure Corporation is a subsidiary of Brookfield Infrastructure Partners L.P.

See Also: Net Income

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