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

Shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) reached a new 52-week high on Wednesday . The company 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 Price Performance

The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 30.47 and a beta of 1.44. The stock has a 50-day moving average of $41.26 and a 200 day moving average of $36.87.

Brookfield Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a $0.405 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.62 annualized dividend and a dividend yield of 3.71%. Brookfield Infrastructure’s dividend payout ratio is currently 112.50%.

Institutional Investors Weigh In On Brookfield Infrastructure

Several large investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its stake in shares of Brookfield Infrastructure by 292.5% in 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 during the period. Toronto Dominion Bank raised its position in Brookfield Infrastructure by 32.0% in the 2nd quarter. Toronto Dominion Bank now owns 149,219 shares of the company’s stock valued at $5,023,000 after buying an additional 36,183 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in Brookfield Infrastructure during the 1st quarter worth approximately $996,000. Vanguard Group Inc. boosted its position in Brookfield Infrastructure by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 4,987,918 shares of the company’s stock worth $175,974,000 after acquiring an additional 99,582 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Brookfield Infrastructure by 3.9% during 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 in the last quarter. 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.