Norges Bank Makes New $60.14 Million Investment in Brookfield Infrastructure Co. (NASDAQ:BIPC)

Norges Bank purchased a new stake in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,501,644 shares of the company's stock, valued at approximately $60,137,000. Norges Bank owned 1.26% of Brookfield Infrastructure as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in Brookfield Infrastructure by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 628,606 shares of the company's stock valued at $27,314,000 after buying an additional 8,891 shares during the period. Townsquare Capital LLC increased its stake in shares of Brookfield Infrastructure by 28.0% during the third quarter. Townsquare Capital LLC now owns 9,183 shares of the company's stock valued at $399,000 after acquiring an additional 2,011 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Brookfield Infrastructure by 1.0% during the third quarter. Rockefeller Capital Management L.P. now owns 36,347 shares of the company's stock worth $1,579,000 after purchasing an additional 364 shares in the last quarter. Captrust Financial Advisors raised its holdings in Brookfield Infrastructure by 3.4% during the third quarter. Captrust Financial Advisors now owns 14,924 shares of the company's stock worth $648,000 after purchasing an additional 493 shares in the last quarter. Finally, Benjamin Edwards Inc. acquired a new stake in Brookfield Infrastructure in the third quarter worth approximately $485,000. 70.38% of the stock is currently owned by institutional investors.

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Brookfield Infrastructure Stock Performance

Shares of BIPC stock traded down $0.83 during mid-day trading on Tuesday, hitting $32.71. 1,171,468 shares of the stock traded hands, compared to its average volume of 537,082. Brookfield Infrastructure Co. has a twelve month low of $28.47 and a twelve month high of $45.29. The company's 50-day simple moving average is $38.44 and its 200-day simple moving average is $40.58. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 22.71 and a beta of 1.48.

Brookfield Infrastructure Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a $0.43 dividend. The ex-dividend date was Friday, February 28th. This is a boost from Brookfield Infrastructure's previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 5.26%. Brookfield Infrastructure's payout ratio is 119.44%.

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.