This 5.7%-Yielding Dividend Stock Thinks It's a Screaming Buy
Brookfield Infrastructure (NYSE: BIP)(NYSE: BIPC) has gotten clobbered this year. Shares have lost nearly a third of their value over the past three months alone, with its sell-off accelerating in recent weeks. That decline has pushed its dividend yield up to 5.7%.
That slump comes even though the company has delivered solid financial results this year and continued to deliver on its strategic objectives. The company now believes its shares are a screaming buy.
In his third-quarter letter to investors, Brookfield Infrastructure CEO Sam Pollock wrote about the factors affecting the company's stock price. "Despite achieving solid financial results throughout the year and delivering on our strategic initiatives," he said, "Brookfield Infrastructure's unit price has disappointingly underperformed recently." That's not unique to Brookfield. Many utilities and other dividend-focused infrastructure companies have slumped as income-focused investors shifted their attention to credit investments and other sector strategies.
Source Fool.com
Brookfield Corp. Stock
We see a rather positive sentiment for Brookfield Corp. with 13 Buy predictions and 1 Sell predictions.
However, we have a potential of -1.38% for Brookfield Corp. as the target price of 43 € is below the current price of 43.6 €.
