Shares of Brookfield Infrastructure Co. (NASDAQ:BIPC – Get Rating) are expected to split before the market opens on Monday, June 13. The 3-2 split was announced on Wednesday, May 4. The newly issued shares will be payable to shareholders after market close on Friday, June 10.

NASDAQ:BIPC shares opened at $72.00 on Friday. The company has a market capitalization of $5.30 billion and a price/earnings ratio of 50.00. The company has a 50-day simple moving average of $73.58 and a 200-day simple moving average of $68.57. Brookfield Infrastructure has a one-year low of $56.89 and a one-year high of $80.60.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30. Investors of record on Tuesday, May 31 will receive a dividend of $0.36. This represents an annualized dividend of $1.44 and a yield of 2.00%. The ex-dividend date is Friday, May 27. Brookfield Infrastructure’s payout ratio is 150.00%.

Several hedge funds have recently increased or reduced their stake in BIPC. TAP Consulting LLC purchased a new stock position in Brookfield Infrastructure during the fourth quarter for $26,000. UMB Bank NA MO bought a new position in shares of Brookfield Infrastructure during the fourth quarter at a value of $29,000. Eaton Vance Management increased its stake in shares of Brookfield Infrastructure by 62.3% during the third quarter. Eaton Vance Management now owns 766 shares of the company valued at $46,000 after acquiring 294 additional shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Brookfield Infrastructure by 40.0% during the first quarter. Federated Hermes Inc. now owns 616 shares of the company valued at $46,000 after acquiring 176 additional shares in the last quarter. Finally, Gradient Investments LLC increased its stake in shares of Brookfield Infrastructure by 610.4% during the fourth quarter. Gradient Investments LLC now owns 952 shares of the company valued at $65,000 after acquiring 818 additional shares in the last quarter.

Brookfield Infrastructure Company Profile (Get a rating)

Brookfield Infrastructure Corporation, together with its subsidiaries, owns and operates regulated natural gas transmission systems in Brazil. The company is also engaged in regulated gas and electricity distribution business in the UK; and electricity transmission and distribution, as well as gas distribution in Australia.

Further reading

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Brookfield Infrastructure right now?

Before you consider Brookfield Infrastructure, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and Brookfield Infrastructure wasn’t on the list.

Although Brookfield Infrastructure currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here