NewGen Asset Management Ltd Makes New $21.40 Million Investment in Brookfield Infrastructure Co. (NASDAQ:BIPC)

NewGen Asset Management Ltd acquired a new position in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) in the 4th quarter, Holdings Channel.com reports. The firm acquired 606,700 shares of the company’s stock, valued at approximately $21,404,000. Brookfield Infrastructure comprises about 11.0% of NewGen Asset Management Ltd’s investment portfolio, making the stock its biggest position.

Several other hedge funds have also recently bought and sold shares of the stock. Allworth Financial LP increased its holdings 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 purchasing an additional 445 shares during the period. SRS Capital Advisors Inc. increased its holdings 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 purchasing an additional 822 shares during the period. CWM LLC increased its stake in Brookfield Infrastructure by 81.6% in the third quarter. CWM LLC now owns 2,059 shares of the company’s stock valued at $73,000 after acquiring an additional 925 shares during the last quarter. Signaturefd LLC increased its stake in Brookfield Infrastructure by 178.0% in the fourth quarter. Signaturefd LLC now owns 3,019 shares of the company’s stock valued at $106,000 after acquiring an additional 1,933 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in Brookfield Infrastructure in the third quarter valued at approximately $121,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Infrastructure Price Performance

NASDAQ:BIPC traded up $0.82 during mid-day trading on Friday, reaching $33.36. The stock had a trading volume of 618,408 shares, compared to its average volume of 575,858. The stock has a 50-day simple moving average of $33.03 and a two-hundred day simple moving average of $33.22. The stock has a market capitalization of $4.40 billion, a PE ratio of 23.17 and a beta of 1.38. Brookfield Infrastructure Co. has a 12 month low of $25.48 and a 12 month high of $48.23.

Brookfield Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.405 per share. The ex-dividend date is Friday, May 31st. This represents a $1.62 annualized dividend and a dividend yield of 4.86%. Brookfield Infrastructure’s dividend payout ratio (DPR) is presently 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.