Brookfield Infrastructure (NASDAQ:BIPC) Reaches New 52-Week High Following Dividend Announcement

Brookfield Infrastructure Co. (NASDAQ:BIPC) shares reached a new 52-week high on Thursday following a dividend announcement from the company. The stock 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. Shareholders of record on Friday, November 29th will be given a $0.405 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.79%. Brookfield Infrastructure’s dividend payout ratio (DPR) is presently 112.50%.

Brookfield Infrastructure Stock Up 0.5 %

The company has a market cap of $5.65 billion, a price-to-earnings ratio of 29.78 and a beta of 1.45. The firm has a 50 day moving average price of $41.97 and a two-hundred day moving average price of $37.76.

Institutional Trading of Brookfield Infrastructure

Several institutional investors have recently added to or reduced their stakes in the stock. Heritage Wealth Advisors raised its holdings in Brookfield Infrastructure by 43.0% during the 1st quarter. Heritage Wealth Advisors now owns 1,333 shares of the company’s stock worth $48,000 after purchasing an additional 401 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Brookfield Infrastructure during the first quarter worth $68,000. Lazard Asset Management LLC bought a new stake in Brookfield Infrastructure in the first quarter worth approximately $73,000. Nisa Investment Advisors LLC increased its stake in shares of Brookfield Infrastructure by 11.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,754 shares of the company’s stock valued at $93,000 after acquiring an additional 288 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Brookfield Infrastructure by 10.7% during the second quarter. CWM LLC now owns 3,148 shares of the company’s stock valued at $106,000 after purchasing an additional 305 shares during the period. 70.38% of the stock is currently owned by 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.