Norges Bank Makes New Investment in Brookfield Infrastructure Co. $BIPC

Norges Bank bought a new position in shares of Brookfield Infrastructure Co. (NYSE:BIPC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,564,212 shares of the company’s stock, valued at approximately $71,014,000. Norges Bank owned 1.30% of Brookfield Infrastructure as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in Brookfield Infrastructure by 3.2% in the third quarter. Envestnet Asset Management Inc. now owns 988,792 shares of the company’s stock valued at $40,659,000 after purchasing an additional 30,696 shares in the last quarter. Barnett & Company Inc. raised its stake in Brookfield Infrastructure by 54.7% in the third quarter. Barnett & Company Inc. now owns 42,550 shares of the company’s stock valued at $1,750,000 after purchasing an additional 15,050 shares in the last quarter. Citigroup Inc. raised its stake in Brookfield Infrastructure by 22.4% in the third quarter. Citigroup Inc. now owns 467,633 shares of the company’s stock valued at $19,211,000 after purchasing an additional 85,511 shares in the last quarter. Annex Advisory Services LLC purchased a new stake in Brookfield Infrastructure in the fourth quarter valued at approximately $2,843,000. Finally, Vanguard Group Inc. raised its stake in shares of Brookfield Infrastructure by 2.1% during the third quarter. Vanguard Group Inc. now owns 5,990,984 shares of the company’s stock worth $246,108,000 after acquiring an additional 124,696 shares in the last quarter. 70.38% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Stock Performance

BIPC stock opened at $41.30 on Friday. The company has a market capitalization of $5.08 billion, a PE ratio of 30.85 and a beta of 1.31. Brookfield Infrastructure Co. has a one year low of $34.18 and a one year high of $51.72. The company’s 50 day moving average price is $40.56 and its two-hundred day moving average price is $44.20.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Brookfield Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Morgan Stanley lifted their price target on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Friday, March 27th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell” and a consensus target price of $46.00.

Brookfield Infrastructure Company Profile

Brookfield Infrastructure (NYSE: BIPC) is a global owner, operator and investor in essential infrastructure assets. As the corporate class of Brookfield Infrastructure Partners L.P., the company provides exposure to a diversified portfolio spanning utilities, transport, energy midstream and data infrastructure. Its holdings generate stable cash flows underpinned by regulated or long-term contracted revenue streams.

Since its formation in 2008 and U.S. listing in 2017, Brookfield Infrastructure has pursued a disciplined strategy of acquiring and managing high-quality infrastructure businesses.