Brookfield Infrastructure (NASDAQ:BIPC) Reaches New 12-Month High After Dividend Announcement

Brookfield Infrastructure Co. (NASDAQ:BIPC) hit a new 52-week high on Thursday after the company announced a dividend. The stock traded as high as $44.26 and last traded at $44.02, with a volume of 94144 shares changing hands. The stock had previously closed at $42.97.

The newly announced dividend which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.80%. Brookfield Infrastructure’s dividend payout ratio is currently 112.50%.

Brookfield Infrastructure Trading Down 0.9 %

The firm has a market cap of $5.62 billion, a P/E ratio of 29.76 and a beta of 1.45. The business’s fifty day moving average price is $41.93 and its two-hundred day moving average price is $37.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. raised its holdings in shares of Brookfield Infrastructure by 292.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 21,647 shares of the company’s stock valued at $729,000 after purchasing an additional 16,132 shares in the last quarter. Toronto Dominion Bank raised its holdings in Brookfield Infrastructure by 32.0% in the 2nd quarter. Toronto Dominion Bank now owns 149,219 shares of the company’s stock worth $5,023,000 after acquiring an additional 36,183 shares during the period. Avantax Advisory Services Inc. bought a new position in Brookfield Infrastructure in the 1st quarter worth $996,000. Bank of Montreal Can raised its holdings in Brookfield Infrastructure by 3.9% in the 2nd quarter. Bank of Montreal Can now owns 4,527,120 shares of the company’s stock worth $153,880,000 after acquiring an additional 169,892 shares during the period. Finally, National Bank of Canada FI raised its holdings in Brookfield Infrastructure by 2.7% in the 2nd quarter. National Bank of Canada FI now owns 1,272,758 shares of the company’s stock worth $41,935,000 after acquiring an additional 33,541 shares during the period. Institutional investors own 70.38% of the company’s stock.

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.