Franklin Resources Inc. Reduces Stock Position in Brookfield Infrastructure Co. (NASDAQ:BIPC)

Franklin Resources Inc. trimmed its holdings in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) by 21.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,172 shares of the company’s stock after selling 5,646 shares during the quarter. Franklin Resources Inc.’s holdings in Brookfield Infrastructure were worth $848,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of BIPC. Bank of New York Mellon Corp boosted its holdings in Brookfield Infrastructure by 12.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 441,589 shares of the company’s stock valued at $14,864,000 after acquiring an additional 47,319 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Brookfield Infrastructure by 99.9% in the second quarter. Commonwealth Equity Services LLC now owns 96,468 shares of the company’s stock valued at $3,247,000 after acquiring an additional 48,208 shares in the last quarter. Van ECK Associates Corp increased its holdings in Brookfield Infrastructure by 9.2% during the second quarter. Van ECK Associates Corp now owns 30,739 shares of the company’s stock valued at $1,035,000 after buying an additional 2,586 shares during the period. Natixis Advisors LLC grew its position in shares of Brookfield Infrastructure by 2.4% in the 2nd quarter. Natixis Advisors LLC now owns 75,880 shares of the company’s stock worth $2,554,000 after buying an additional 1,780 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Brookfield Infrastructure by 1.9% in the second quarter. Rhumbline Advisers now owns 216,702 shares of the company’s stock valued at $7,294,000 after buying an additional 4,111 shares during the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Stock Down 2.2 %

Shares of Brookfield Infrastructure stock opened at $38.20 on Monday. The firm has a market capitalization of $5.04 billion, a P/E ratio of 26.53 and a beta of 1.45. Brookfield Infrastructure Co. has a 52 week low of $28.47 and a 52 week high of $45.29. The company has a 50 day moving average price of $42.17 and a 200 day moving average price of $39.89.

Brookfield Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Friday, November 29th. Brookfield Infrastructure’s dividend payout ratio is presently 112.50%.

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.