Thrivent Financial for Lutherans Raises Stake in Brookfield Infrastructure Co. $BIPC

Thrivent Financial for Lutherans increased its holdings in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 24.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 163,224 shares of the company’s stock after purchasing an additional 32,015 shares during the quarter. Thrivent Financial for Lutherans owned 0.14% of Brookfield Infrastructure worth $6,712,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. City Holding Co. acquired a new stake in shares of Brookfield Infrastructure in the third quarter worth $25,000. Geneos Wealth Management Inc. lifted its holdings in shares of Brookfield Infrastructure by 338.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 710 shares of the company’s stock valued at $26,000 after acquiring an additional 548 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in Brookfield Infrastructure during the 2nd quarter worth $36,000. Citizens National Bank Trust Department acquired a new stake in Brookfield Infrastructure in the 3rd quarter valued at $41,000. Finally, GAMMA Investing LLC increased its holdings in Brookfield Infrastructure by 107.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,119 shares of the company’s stock valued at $46,000 after purchasing an additional 580 shares in the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley set a $57.00 price objective on Brookfield Infrastructure in a research note on Wednesday, January 28th. Wall Street Zen upgraded shares of Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Brookfield Infrastructure in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $57.00.

Brookfield Infrastructure Stock Down 0.1%

Shares of Brookfield Infrastructure stock opened at $49.07 on Friday. The business has a 50-day moving average price of $45.93 and a 200 day moving average price of $43.57. Brookfield Infrastructure Co. has a fifty-two week low of $32.08 and a fifty-two week high of $49.70. The firm has a market cap of $5.89 billion, a P/E ratio of 30.85 and a beta of 1.36.

Brookfield Infrastructure Announces Dividend

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

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.