Brookfield Infrastructure (NASDAQ:BIPC) Trading 3.1% Higher

Brookfield Infrastructure Co. (NASDAQ:BIPC)’s stock price traded up 3.1% during trading on Wednesday . The company traded as high as $29.79 and last traded at $29.79. 499,557 shares changed hands during trading, a decline of 10% from the average session volume of 554,017 shares. The stock had previously closed at $28.90.

Brookfield Infrastructure Price Performance

The stock’s 50-day moving average is $34.28 and its 200 day moving average is $33.38. The company has a market cap of $3.95 billion, a PE ratio of 20.77 and a beta of 1.38.

Brookfield Infrastructure Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were given a dividend of $0.405 per share. This is a boost from Brookfield Infrastructure’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.62 dividend on an annualized basis and a yield of 5.41%. Brookfield Infrastructure’s dividend payout ratio is presently 112.50%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Addenda Capital Inc. purchased a new position in shares of Brookfield Infrastructure in the first quarter worth $227,000. Paragon Capital Management Ltd raised its holdings in shares of Brookfield Infrastructure by 10.8% in the first quarter. Paragon Capital Management Ltd now owns 127,388 shares of the company’s stock worth $4,591,000 after buying an additional 12,402 shares during the last quarter. Lantz Financial LLC raised its holdings in shares of Brookfield Infrastructure by 1.5% in the first quarter. Lantz Financial LLC now owns 42,729 shares of the company’s stock worth $1,540,000 after buying an additional 649 shares during the last quarter. MADDEN SECURITIES Corp grew its position in Brookfield Infrastructure by 2.1% during the 1st quarter. MADDEN SECURITIES Corp now owns 52,327 shares of the company’s stock worth $1,886,000 after purchasing an additional 1,060 shares during the period. Finally, Confluence Investment Management LLC acquired a new stake in Brookfield Infrastructure during the first quarter worth about $89,710,000. Hedge funds and other 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.