BidaskClub upgraded shares of Brookfield Infrastructure Partners (NASDAQ:BIPC) from a hold rating to a buy rating in a research report released on Saturday, BidAskClub reports.

BIPC has been the topic of a number of other research reports. Bank of America started coverage on Brookfield Infrastructure Partners in a research report on Wednesday, May 27th. They set a buy rating and a $53.00 price target on the stock. Zacks Investment Research downgraded Brookfield Infrastructure Partners from a strong-buy rating to a sell rating in a research report on Monday, August 10th. Finally, Wells Fargo & Company restated a buy rating on shares of Brookfield Infrastructure Partners in a research report on Friday, June 19th.

NASDAQ BIPC opened at $55.51 on Friday. The company’s 50-day moving average price is $49.89. Brookfield Infrastructure Partners has a twelve month low of $32.54 and a twelve month high of $55.89. The stock has a market capitalization of $2.50 billion and a P/E ratio of 38.55.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 31st will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.94 annualized dividend and a dividend yield of 3.49%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 134.72%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BIPC. Capital World Investors purchased a new position in shares of Brookfield Infrastructure Partners in the first quarter worth about $73,460,000. Principal Financial Group Inc. purchased a new position in shares of Brookfield Infrastructure Partners in the second quarter worth about $56,323,000. FMR LLC increased its holdings in shares of Brookfield Infrastructure Partners by 17,471.4% in the second quarter. FMR LLC now owns 1,076,250 shares of the company’s stock worth $49,012,000 after buying an additional 1,070,125 shares during the period. Bank of Montreal Can purchased a new position in shares of Brookfield Infrastructure Partners in the second quarter worth about $41,047,000. Finally, Royal Bank of Canada purchased a new position in shares of Brookfield Infrastructure Partners in the first quarter worth about $24,682,000.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Corporation engages in the ownership and operation of regulated gas transmission systems in Brazil. It also engages in the regulated distribution operations in the United Kingdom. The company was founded in 2019 and is headquartered in New York, New York. Brookfield Infrastructure Corporation is a subsidiary of Brookfield Infrastructure Partners L.P.

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