Brookfield Infrastructure (NASDAQ:BIPC) Hits New 12-Month High at $42.79

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

Brookfield Infrastructure Trading Up 1.4 %

The business has a 50 day moving average of $39.34 and a 200-day moving average of $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 disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a $0.405 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.62 annualized dividend and a yield of 3.78%. Brookfield Infrastructure’s dividend payout ratio is currently 112.50%.

Hedge Funds Weigh In On Brookfield Infrastructure

A number of large investors have recently added to or reduced their stakes in the company. Confluence Investment Management LLC bought a new stake in shares of Brookfield Infrastructure in the first quarter valued at about $89,710,000. Norges Bank bought a new stake in Brookfield Infrastructure in the 4th quarter valued at approximately $53,055,000. Epoch Investment Partners Inc. boosted its position in Brookfield Infrastructure by 67.6% during the 4th quarter. Epoch Investment Partners Inc. now owns 2,113,151 shares of the company’s stock worth $74,552,000 after acquiring an additional 852,089 shares during the last quarter. TD Asset Management Inc boosted its position in Brookfield Infrastructure by 118.9% during the 4th quarter. TD Asset Management Inc now owns 1,254,936 shares of the company’s stock worth $44,379,000 after acquiring an additional 681,645 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new position in shares of Brookfield Infrastructure during the 2nd quarter worth approximately $12,632,000. 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.