Brookfield Infrastructure (NASDAQ:BIPC) Sets New 1-Year High at $42.79

Brookfield Infrastructure Co. (NASDAQ:BIPC)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $42.79 and last traded at $42.76, with a volume of 65013 shares. The stock had previously closed at $42.30.

Brookfield Infrastructure Price Performance

The stock’s 50 day moving average is $39.34 and its two-hundred day moving average is $35.67. The firm has a market capitalization of $5.66 billion, a P/E ratio of 29.40 and a beta of 1.44.

Brookfield Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $0.405 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.62 annualized dividend and a dividend yield of 3.78%. Brookfield Infrastructure’s dividend payout ratio is currently 112.50%.

Institutional Investors Weigh In On Brookfield Infrastructure

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Brookfield Infrastructure by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 5,267,594 shares of the company’s stock worth $189,844,000 after buying an additional 279,676 shares during the period. Bank of Montreal Can grew its holdings in Brookfield Infrastructure by 3.9% during the second quarter. Bank of Montreal Can now owns 4,527,120 shares of the company’s stock valued at $153,880,000 after purchasing an additional 169,892 shares during the period. Principal Financial Group Inc. grew its holdings in Brookfield Infrastructure by 9.0% during the second quarter. Principal Financial Group Inc. now owns 2,872,954 shares of the company’s stock valued at $96,704,000 after purchasing an additional 236,355 shares during the period. Confluence Investment Management LLC bought a new stake in Brookfield Infrastructure in the first quarter valued at approximately $89,710,000. Finally, Epoch Investment Partners Inc. raised its holdings in Brookfield Infrastructure by 6.5% in the first quarter. Epoch Investment Partners Inc. now owns 2,249,798 shares of the company’s stock worth $81,083,000 after purchasing an additional 136,647 shares during the period. Institutional investors own 70.38% of the company’s stock.

About Brookfield Infrastructure

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.