Brookfield Infrastructure (NASDAQ:BIPC) Stock Price Down 3.6% – Here’s What Happened

Brookfield Infrastructure Co. (NASDAQ:BIPC)’s share price fell 3.6% during mid-day trading on Tuesday . The company traded as low as $41.52 and last traded at $41.83. 84,183 shares were traded during mid-day trading, a decline of 83% from the average session volume of 505,050 shares. The stock had previously closed at $43.40.

Brookfield Infrastructure Price Performance

The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 30.14 and a beta of 1.45. The firm’s 50-day moving average is $42.39 and its 200 day moving average is $38.42.

Brookfield Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 3.81%. Brookfield Infrastructure’s dividend payout ratio (DPR) is 112.50%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its holdings in shares of Brookfield Infrastructure by 22.1% during the 1st quarter. Sei Investments Co. now owns 49,424 shares of the company’s stock valued at $1,781,000 after buying an additional 8,937 shares during the period. Vanguard Group Inc. lifted its position in shares of Brookfield Infrastructure by 5.6% during the first quarter. Vanguard Group Inc. now owns 5,267,594 shares of the company’s stock worth $189,844,000 after purchasing an additional 279,676 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Brookfield Infrastructure in the first quarter valued at $234,000. National Bank of Canada FI grew its holdings in Brookfield Infrastructure by 3.5% during the 1st quarter. National Bank of Canada FI now owns 1,239,217 shares of the company’s stock valued at $42,867,000 after purchasing an additional 41,698 shares in the last quarter. Finally, Guardian Capital LP increased its stake in Brookfield Infrastructure by 2.3% during the 1st quarter. Guardian Capital LP now owns 278,240 shares of the company’s stock worth $10,034,000 after buying an additional 6,305 shares during the period. 70.38% of the stock is owned by hedge funds and other institutional investors.

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.