NewGen Asset Management Ltd Buys New Position in Brookfield Infrastructure Co. (NASDAQ:BIPC)

NewGen Asset Management Ltd purchased a new position in Brookfield Infrastructure Co. (NASDAQ:BIPC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 606,700 shares of the company’s stock, valued at approximately $21,404,000. Brookfield Infrastructure accounts for 11.0% of NewGen Asset Management Ltd’s investment portfolio, making the stock its biggest position. NewGen Asset Management Ltd owned approximately 0.46% of Brookfield Infrastructure as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of BIPC. Allworth Financial LP boosted its position in shares of Brookfield Infrastructure by 169.8% during the fourth quarter. Allworth Financial LP now owns 707 shares of the company’s stock worth $25,000 after acquiring an additional 445 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Brookfield Infrastructure by 413.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,021 shares of the company’s stock worth $36,000 after acquiring an additional 822 shares during the last quarter. CWM LLC boosted its position in shares of Brookfield Infrastructure by 81.6% during the third quarter. CWM LLC now owns 2,059 shares of the company’s stock worth $73,000 after acquiring an additional 925 shares during the last quarter. Signaturefd LLC boosted its position in shares of Brookfield Infrastructure by 178.0% during the fourth quarter. Signaturefd LLC now owns 3,019 shares of the company’s stock worth $106,000 after acquiring an additional 1,933 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Brookfield Infrastructure during the third quarter worth $121,000. 70.38% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Stock Up 2.5 %

Brookfield Infrastructure stock traded up $0.82 during mid-day trading on Friday, reaching $33.36. 618,408 shares of the company’s stock traded hands, compared to its average volume of 575,858. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 23.17 and a beta of 1.38. The stock has a 50 day moving average of $33.03 and a two-hundred day moving average of $33.22. Brookfield Infrastructure Co. has a 12-month low of $25.48 and a 12-month high of $48.23.

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 $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Infrastructure’s dividend payout ratio is currently 112.50%.

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.