Brookfield Infrastructure (NASDAQ:BIPC) Reaches New 52-Week High – Should You Buy?

Shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) hit a new 52-week high on Wednesday . The stock traded as high as $45.73 and last traded at $45.73, with a volume of 154 shares. The stock had previously closed at $43.87.

Brookfield Infrastructure Stock Performance

The firm has a fifty day moving average of $41.26 and a 200 day moving average of $36.87. The firm has a market capitalization of $5.77 billion, a PE ratio of 30.47 and a beta of 1.44.

Brookfield Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.405 per share. The ex-dividend date was Friday, August 30th. This represents a $1.62 annualized dividend and a yield of 3.71%. Brookfield Infrastructure’s payout ratio is 112.50%.

Institutional Trading of Brookfield Infrastructure

A number of large investors have recently modified their holdings of BIPC. Vanguard Group Inc. increased its stake in Brookfield Infrastructure by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 4,987,918 shares of the company’s stock worth $175,974,000 after purchasing an additional 99,582 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Brookfield Infrastructure by 10.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,455 shares of the company’s stock valued at $439,000 after buying an additional 1,169 shares during the period. Addenda Capital Inc. bought a new position in shares of Brookfield Infrastructure during the 1st quarter worth about $227,000. Allspring Global Investments Holdings LLC boosted its position in shares of Brookfield Infrastructure by 20.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,728 shares of the company’s stock valued at $242,000 after acquiring an additional 1,126 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Brookfield Infrastructure by 6.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 9,556 shares of the company’s stock valued at $344,000 after acquiring an additional 544 shares during the period. Institutional investors and hedge funds 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.