Beach Investment Counsel Inc. PA Lowers Stock Holdings in Brookfield Infrastructure Co. (NASDAQ:BIPC)

by · The Cerbat Gem

Beach Investment Counsel Inc. PA reduced its position in Brookfield Infrastructure Co. (NASDAQ:BIPC – Free Report) by 10.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 18,781 shares of the company’s stock after selling 2,126 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Brookfield Infrastructure were worth $663,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its stake in shares of Brookfield Infrastructure by 14.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,461 shares of the company’s stock valued at $337,000 after buying an additional 559 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Brookfield Infrastructure by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 213,315 shares of the company’s stock worth $16,092,000 after buying an additional 3,782 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Brookfield Infrastructure by 62.5% during the 1st quarter. MetLife Investment Management LLC now owns 33,631 shares of the company’s stock worth $2,537,000 after buying an additional 12,938 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Brookfield Infrastructure by 7.4% during the 1st quarter. BlackRock Inc. now owns 3,763,219 shares of the company’s stock worth $283,898,000 after buying an additional 258,946 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Brookfield Infrastructure by 38.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 30,052 shares of the company’s stock worth $2,406,000 after buying an additional 8,340 shares during the last quarter. 68.89% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Stock Down 3.0 %

Shares of BIPC stock traded down $1.04 on Thursday, reaching $33.10. 305,496 shares of the stock were exchanged, compared to its average volume of 477,528. The firm has a 50 day moving average of $35.20 and a two-hundred day moving average of $34.10. Brookfield Infrastructure Co. has a 1-year low of $25.48 and a 1-year high of $48.23. The stock has a market cap of $4.37 billion, a P/E ratio of 23.47 and a beta of 1.37.

Brookfield Infrastructure Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th will be given a $0.405 dividend. This is a boost from Brookfield Infrastructure’s previous quarterly dividend of $0.38. This represents a $1.62 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Wednesday, February 28th. Brookfield Infrastructure’s dividend payout ratio is presently 112.50%.

Brookfield Infrastructure Profile

(Free Report)

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.

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