Brookfield Infrastructure (NASDAQ:BIPC) Reaches New 1-Year High – Time to Buy?

Brookfield Infrastructure Co. (NASDAQ:BIPC) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $44.76 and last traded at $44.63, with a volume of 19802 shares changing hands. The stock had previously closed at $44.14.

Brookfield Infrastructure Price Performance

The business’s 50-day moving average price is $42.72 and its two-hundred day moving average price is $38.84. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 30.80 and a beta of 1.45.

Brookfield Infrastructure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.405 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 3.65%. Brookfield Infrastructure’s payout ratio is 112.50%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its position in Brookfield Infrastructure by 5.7% in the 3rd quarter. FMR LLC now owns 12,453,146 shares of the company’s stock valued at $540,840,000 after purchasing an additional 673,427 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 279,676 shares in the last quarter. Bank of Montreal Can lifted its holdings in Brookfield Infrastructure by 3.9% in 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 period. Principal Financial Group Inc. grew its position in Brookfield Infrastructure by 9.0% in the 2nd quarter. Principal Financial Group Inc. now owns 2,872,954 shares of the company’s stock valued at $96,704,000 after buying an additional 236,355 shares in the last quarter. Finally, Copeland Capital Management LLC increased its stake in Brookfield Infrastructure by 1.2% during the 3rd quarter. Copeland Capital Management LLC now owns 2,081,877 shares of the company’s stock valued at $90,416,000 after buying an additional 23,882 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

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.