Maryland State Retirement & Pension System Reduces Stock Holdings in Brookfield Infrastructure Co. $BIPC

Maryland State Retirement & Pension System reduced its holdings in Brookfield Infrastructure Co. (NYSE:BIPC) by 4.4% during the 2nd quarter, Holdings Channel reports. The fund owned 144,945 shares of the company’s stock after selling 6,594 shares during the period. Maryland State Retirement & Pension System’s holdings in Brookfield Infrastructure were worth $6,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in BIPC. GAMMA Investing LLC purchased a new stake in Brookfield Infrastructure during the first quarter worth $660,000. Harbor Capital Advisors Inc. purchased a new stake in Brookfield Infrastructure during the first quarter worth $1,770,000. Fifth Third Bancorp boosted its holdings in Brookfield Infrastructure by 79.1% during the first quarter. Fifth Third Bancorp now owns 1,501 shares of the company’s stock worth $54,000 after buying an additional 663 shares in the last quarter. Paragon Capital Management Ltd boosted its holdings in Brookfield Infrastructure by 5.4% during the first quarter. Paragon Capital Management Ltd now owns 14,534 shares of the company’s stock worth $526,000 after buying an additional 750 shares in the last quarter. Finally, Canton Hathaway LLC purchased a new stake in Brookfield Infrastructure during the first quarter worth $109,000. 70.38% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Stock Down 1.5%

BIPC opened at $43.93 on Friday. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 30.51 and a beta of 1.45. Brookfield Infrastructure Co. has a 52-week low of $32.08 and a 52-week high of $45.29. The firm’s fifty day simple moving average is $40.50 and its two-hundred day simple moving average is $39.54.

Brookfield Infrastructure Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wall Street Zen raised shares of Brookfield Infrastructure from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Morgan Stanley increased their price target on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 26th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Brookfield Infrastructure in a report on Saturday, September 27th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Infrastructure currently has an average 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.