Brookfield Infrastructure (NASDAQ:BIPC) Sets New 1-Year High Following Dividend Announcement

Brookfield Infrastructure Co. (NASDAQ:BIPC)’s stock price reached a new 52-week high on Thursday after the company announced a dividend. The company traded as high as $44.26 and last traded at $44.02, with a volume of 94144 shares traded. The stock had previously closed at $42.97.

The newly announced dividend which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 3.80%. Brookfield Infrastructure’s dividend payout ratio is presently 112.50%.

Brookfield Infrastructure Stock Performance

The company has a market cap of $5.62 billion, a PE ratio of 29.76 and a beta of 1.45. The company’s 50-day simple moving average is $41.93 and its 200 day simple moving average is $37.73.

Institutional Investors Weigh In On Brookfield Infrastructure

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Brookfield Infrastructure by 20.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,728 shares of the company’s stock worth $242,000 after buying an additional 1,126 shares during the last quarter. SG Americas Securities LLC boosted its stake in Brookfield Infrastructure by 27.9% in the first quarter. SG Americas Securities LLC now owns 15,716 shares of the company’s stock valued at $566,000 after acquiring an additional 3,431 shares in the last quarter. Avalon Trust Co grew its holdings in shares of Brookfield Infrastructure by 3.6% during the first quarter. Avalon Trust Co now owns 171,973 shares of the company’s stock worth $6,198,000 after purchasing an additional 5,906 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Brookfield Infrastructure by 0.6% in the 1st quarter. Swiss National Bank now owns 236,477 shares of the company’s stock valued at $8,517,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Redmond Asset Management LLC boosted its position in shares of Brookfield Infrastructure by 177.6% in the 1st quarter. Redmond Asset Management LLC now owns 41,260 shares of the company’s stock valued at $1,487,000 after purchasing an additional 26,398 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.