Pinnacle Wealth Management Group Inc. Purchases 1,728 Shares of Brookfield Infrastructure Co. (NASDAQ:BIPC)

Pinnacle Wealth Management Group Inc. grew its holdings in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) by 13.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,869 shares of the company’s stock after acquiring an additional 1,728 shares during the quarter. Pinnacle Wealth Management Group Inc.’s holdings in Brookfield Infrastructure were worth $646,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in Brookfield Infrastructure by 544.5% during the 3rd quarter. SG Americas Securities LLC now owns 36,800 shares of the company’s stock valued at $1,598,000 after acquiring an additional 31,090 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of Brookfield Infrastructure by 424.1% during the second quarter. Cubist Systematic Strategies LLC now owns 21,069 shares of the company’s stock valued at $709,000 after purchasing an additional 27,569 shares during the period. Clearbridge Investments LLC bought a new position in shares of Brookfield Infrastructure in the second quarter worth approximately $12,632,000. Mackenzie Financial Corp increased its stake in shares of Brookfield Infrastructure by 42.3% in the second quarter. Mackenzie Financial Corp now owns 85,786 shares of the company’s stock worth $2,888,000 after buying an additional 25,515 shares during the period. Finally, Toronto Dominion Bank boosted its position in Brookfield Infrastructure by 32.0% during 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 period. 70.38% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Trading Up 0.6 %

Shares of BIPC stock traded up $0.23 during mid-day trading on Friday, reaching $41.30. The stock had a trading volume of 201,606 shares, compared to its average volume of 521,554. The stock’s 50-day moving average price is $40.39 and its two-hundred day moving average price is $36.43. The firm has a market capitalization of $5.45 billion, a PE ratio of 28.68 and a beta of 1.44. Brookfield Infrastructure Co. has a 52-week low of $25.48 and a 52-week high of $43.90.

Brookfield Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Infrastructure’s payout ratio is 112.50%.

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.