Brookfield Infrastructure (NASDAQ:BIPC) Hits New 12-Month High – Here’s Why

Brookfield Infrastructure Co. (NASDAQ:BIPC) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $45.73 and last traded at $45.73, with a volume of 154 shares changing hands. The stock had previously closed at $43.87.

Brookfield Infrastructure Stock Performance

The company has a market capitalization of $5.75 billion, a PE ratio of 30.09 and a beta of 1.44. The company has a 50 day moving average price of $41.38 and a 200 day moving average price of $36.92.

Brookfield Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 3.72%. The ex-dividend date was Friday, August 30th. Brookfield Infrastructure’s dividend payout ratio is currently 112.50%.

Hedge Funds Weigh In On Brookfield Infrastructure

Several large investors have recently modified their holdings of BIPC. Vanguard Group Inc. raised its stake in Brookfield Infrastructure by 5.6% during the first quarter. Vanguard Group Inc. now owns 5,267,594 shares of the company’s stock valued at $189,844,000 after buying an additional 279,676 shares in the last quarter. Bank of Montreal Can lifted its stake 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 worth $153,880,000 after purchasing an additional 169,892 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Brookfield Infrastructure by 9.0% in the second quarter. Principal Financial Group Inc. now owns 2,872,954 shares of the company’s stock worth $96,704,000 after purchasing an additional 236,355 shares during the period. Epoch Investment Partners Inc. increased its stake in Brookfield Infrastructure by 6.5% during the first quarter. Epoch Investment Partners Inc. now owns 2,249,798 shares of the company’s stock valued at $81,083,000 after purchasing an additional 136,647 shares during the last quarter. Finally, Copeland Capital Management LLC raised its holdings in shares of Brookfield Infrastructure by 1.2% during the third quarter. Copeland Capital Management LLC now owns 2,081,877 shares of the company’s stock worth $90,416,000 after purchasing an additional 23,882 shares during the period. Institutional investors own 70.38% of the company’s stock.

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.