Corrado Advisors LLC Sells 284 Shares of Brookfield Infrastructure Co. $BIPC

Corrado Advisors LLC lowered its position in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 0.7% during the second quarter, Holdings Channel.com reports. The firm owned 38,751 shares of the company’s stock after selling 284 shares during the quarter. Corrado Advisors LLC’s holdings in Brookfield Infrastructure were worth $1,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Brookfield Infrastructure by 2.7% during the first quarter. Principal Financial Group Inc. now owns 3,194,929 shares of the company’s stock worth $115,624,000 after purchasing an additional 85,121 shares during the period. Brown Advisory Inc. bought a new position in shares of Brookfield Infrastructure during the first quarter worth approximately $107,741,000. Epoch Investment Partners Inc. increased its stake in shares of Brookfield Infrastructure by 10.5% during the first quarter. Epoch Investment Partners Inc. now owns 1,797,568 shares of the company’s stock worth $65,054,000 after purchasing an additional 171,427 shares during the period. HighTower Advisors LLC increased its stake in shares of Brookfield Infrastructure by 85.8% during the first quarter. HighTower Advisors LLC now owns 1,378,035 shares of the company’s stock worth $49,871,000 after purchasing an additional 636,353 shares during the period. Finally, Scotia Capital Inc. increased its stake in shares of Brookfield Infrastructure by 4.6% during the first quarter. Scotia Capital Inc. now owns 1,304,699 shares of the company’s stock worth $46,272,000 after purchasing an additional 57,692 shares during the period. Institutional investors own 70.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Brookfield Infrastructure Stock Performance

Shares of BIPC stock opened at $45.05 on Wednesday. The stock’s fifty day moving average price is $42.05 and its two-hundred day moving average price is $40.49. The company has a market cap of $5.36 billion, a PE ratio of 30.85 and a beta of 1.45. Brookfield Infrastructure Co. has a fifty-two week low of $32.08 and a fifty-two week high of $47.71.

Brookfield Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, August 29th.

Brookfield Infrastructure Company Profile

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.