Brookfield Infrastructure (NASDAQ:BIPC) Hits New 52-Week High at $40.69

Brookfield Infrastructure Co. (NASDAQ:BIPC) reached a new 52-week high during trading on Friday . The company traded as high as $40.69 and last traded at $40.69, with a volume of 101979 shares. The stock had previously closed at $39.41.

Brookfield Infrastructure Price Performance

The stock has a market capitalization of $5.41 billion, a PE ratio of 27.37 and a beta of 1.44. The business has a 50 day moving average price of $36.35 and a 200 day moving average price of $34.81.

Brookfield Infrastructure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.405 per share. The ex-dividend date is Friday, August 30th. This represents a $1.62 annualized dividend and a dividend yield of 3.95%. Brookfield Infrastructure’s dividend payout ratio (DPR) is presently 112.50%.

Institutional Investors Weigh In On Brookfield Infrastructure

Several institutional investors have recently modified their holdings of BIPC. Dimensional Fund Advisors LP lifted its holdings in Brookfield Infrastructure by 2,147.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,617,613 shares of the company’s stock valued at $127,629,000 after acquiring an additional 3,456,621 shares during the period. Confluence Investment Management LLC bought a new position in shares of Brookfield Infrastructure in the first quarter worth about $89,710,000. Norges Bank bought a new position in shares of Brookfield Infrastructure in the fourth quarter worth about $53,055,000. Epoch Investment Partners Inc. raised its stake in shares of Brookfield Infrastructure by 67.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,113,151 shares of the company’s stock worth $74,552,000 after buying an additional 852,089 shares during the period. Finally, TD Asset Management Inc raised its stake in shares of Brookfield Infrastructure by 118.9% in the fourth quarter. TD Asset Management Inc now owns 1,254,936 shares of the company’s stock worth $44,379,000 after buying an additional 681,645 shares during the period. 70.38% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Company 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.