Arete Wealth Advisors LLC Makes New $13.34 Million Investment in Brookfield Infrastructure Co. (NASDAQ:BIPC)

Arete Wealth Advisors LLC purchased a new position in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,361,543 shares of the company’s stock, valued at approximately $13,343,000. Brookfield Infrastructure accounts for about 0.9% of Arete Wealth Advisors LLC’s portfolio, making the stock its 18th biggest position. Arete Wealth Advisors LLC owned about 2.13% of Brookfield Infrastructure as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BIPC. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Brookfield Infrastructure by 14.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 4,461 shares of the company’s stock valued at $337,000 after buying an additional 559 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Brookfield Infrastructure by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 213,315 shares of the company’s stock valued at $16,092,000 after buying an additional 3,782 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Brookfield Infrastructure by 62.5% in the first quarter. MetLife Investment Management LLC now owns 33,631 shares of the company’s stock valued at $2,537,000 after buying an additional 12,938 shares during the period. BlackRock Inc. lifted its holdings in shares of Brookfield Infrastructure by 7.4% in the first quarter. BlackRock Inc. now owns 3,763,219 shares of the company’s stock valued at $283,898,000 after buying an additional 258,946 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Brookfield Infrastructure by 38.4% in the first quarter. Great West Life Assurance Co. Can now owns 30,052 shares of the company’s stock valued at $2,406,000 after buying an additional 8,340 shares during the period. Institutional investors and hedge funds own 68.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company cut their target price on Brookfield Infrastructure from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, August 4th.

Brookfield Infrastructure Price Performance

Shares of BIPC stock opened at $37.52 on Wednesday. Brookfield Infrastructure Co. has a fifty-two week low of $36.10 and a fifty-two week high of $50.03. The stock’s 50-day moving average is $42.40 and its two-hundred day moving average is $44.15. The firm has a market cap of $4.15 billion, a P/E ratio of 26.06 and a beta of 1.23.

Brookfield Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.3825 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.53 annualized dividend and a dividend yield of 4.08%. Brookfield Infrastructure’s dividend payout ratio (DPR) is presently 106.25%.

Brookfield Infrastructure 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.