Harbor Advisory Corp MA Trims Stake in Brookfield Infrastructure Co. (NASDAQ:BIPC)

Harbor Advisory Corp MA lowered its holdings in Brookfield Infrastructure Co. (NASDAQ:BIPC) by 28.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 21,506 shares of the company’s stock after selling 8,425 shares during the period. Harbor Advisory Corp MA’s holdings in Brookfield Infrastructure were worth $860,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Summit Trail Advisors LLC raised its position in Brookfield Infrastructure by 19.6% in the fourth quarter. Summit Trail Advisors LLC now owns 9,432 shares of the company’s stock valued at $377,000 after purchasing an additional 1,546 shares during the period. Empowered Funds LLC purchased a new stake in Brookfield Infrastructure in the fourth quarter valued at $1,834,000. Hedeker Wealth LLC grew its stake in shares of Brookfield Infrastructure by 148.6% in the fourth quarter. Hedeker Wealth LLC now owns 23,696 shares of the company’s stock valued at $948,000 after buying an additional 14,163 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Brookfield Infrastructure in the fourth quarter valued at $847,000. Finally, Rice Partnership LLC grew its stake in shares of Brookfield Infrastructure by 57.1% in the fourth quarter. Rice Partnership LLC now owns 120,612 shares of the company’s stock valued at $4,826,000 after buying an additional 43,847 shares in the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Trading Down 1.2 %

Shares of NASDAQ BIPC opened at $40.63 on Wednesday. Brookfield Infrastructure Co. has a twelve month low of $28.47 and a twelve month high of $45.29. The stock has a fifty day simple moving average of $40.48 and a 200-day simple moving average of $41.06. The stock has a market capitalization of $4.84 billion, a PE ratio of 28.21 and a beta of 1.48.

Brookfield Infrastructure Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Infrastructure’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.23%. Brookfield Infrastructure’s payout ratio is presently 119.44%.

Brookfield Infrastructure 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.