Confluence Investment Management LLC Invests $89.71 Million in Brookfield Infrastructure Co. (NASDAQ:BIPC)

Confluence Investment Management LLC bought a new position in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,489,171 shares of the company’s stock, valued at approximately $89,710,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Brookfield Infrastructure by 2,147.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,617,613 shares of the company’s stock valued at $127,629,000 after acquiring an additional 3,456,621 shares during the period. Norges Bank bought a new stake in Brookfield Infrastructure in the fourth quarter valued at approximately $53,055,000. International Assets Investment Management LLC raised its stake in Brookfield Infrastructure by 3,874.5% in the fourth quarter. International Assets Investment Management LLC now owns 973,128 shares of the company’s stock valued at $343,320,000 after buying an additional 948,644 shares during the period. Vanguard Group Inc. raised its stake in Brookfield Infrastructure by 22.9% in the third quarter. Vanguard Group Inc. now owns 4,888,336 shares of the company’s stock valued at $172,754,000 after buying an additional 911,454 shares during the period. Finally, Epoch Investment Partners Inc. increased its stake in shares of Brookfield Infrastructure by 67.6% during the fourth quarter. Epoch Investment Partners Inc. now owns 2,113,151 shares of the company’s stock worth $74,552,000 after purchasing an additional 852,089 shares during the period. Institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Stock Performance

Shares of NASDAQ BIPC traded up $0.20 during trading hours on Tuesday, reaching $33.74. 98,815 shares of the stock were exchanged, compared to its average volume of 559,002. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 23.29 and a beta of 1.45. Brookfield Infrastructure Co. has a 52 week low of $25.48 and a 52 week high of $47.44. The stock’s fifty day simple moving average is $33.20 and its 200 day simple moving average is $34.23.

Brookfield Infrastructure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.80%. Brookfield Infrastructure’s dividend payout ratio (DPR) is currently 112.50%.

Brookfield Infrastructure Company 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.