Brookfield Infrastructure Co. $BIPC Stake Boosted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in Brookfield Infrastructure Co. (NYSE:BIPC) by 24.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 163,224 shares of the company’s stock after purchasing an additional 32,015 shares during the period. Thrivent Financial for Lutherans’ holdings in Brookfield Infrastructure were worth $6,712,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BIPC. Federated Hermes Inc. lifted its stake in Brookfield Infrastructure by 10,734.2% in the third quarter. Federated Hermes Inc. now owns 180,931 shares of the company’s stock valued at $7,440,000 after buying an additional 179,261 shares during the last quarter. Truist Financial Corp grew its position in Brookfield Infrastructure by 18.1% in the 3rd quarter. Truist Financial Corp now owns 6,587 shares of the company’s stock worth $271,000 after purchasing an additional 1,010 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Brookfield Infrastructure by 36.1% during the third quarter. CIBC Asset Management Inc now owns 588,145 shares of the company’s stock valued at $24,185,000 after buying an additional 155,979 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Brookfield Infrastructure by 1.3% during the third quarter. International Assets Investment Management LLC now owns 31,914 shares of the company’s stock worth $1,343,000 after buying an additional 400 shares during the period. Finally, BankPlus Wealth Management LLC increased its position in Brookfield Infrastructure by 6.5% in the 3rd quarter. BankPlus Wealth Management LLC now owns 11,408 shares of the company’s stock valued at $469,000 after acquiring an additional 700 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Price Performance

NYSE BIPC opened at $49.07 on Friday. The company has a market capitalization of $5.89 billion, a P/E ratio of 30.85 and a beta of 1.36. Brookfield Infrastructure Co. has a 12 month low of $32.08 and a 12 month high of $49.70. The company’s 50 day simple moving average is $45.93 and its 200 day simple moving average is $43.57.

Brookfield Infrastructure Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Monday, December 29th. Wall Street Zen raised shares of Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, Morgan Stanley set a $57.00 price objective on shares of Brookfield Infrastructure in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Brookfield Infrastructure presently has a consensus rating of “Reduce” and a consensus price target of $57.00.

Brookfield Infrastructure Profile

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.