Brookfield Infrastructure (NYSE:BIPC) Announces Quarterly Earnings Results

Brookfield Infrastructure (NYSE:BIPC) posted its quarterly earnings results on Thursday. The company reported ($0.56) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $940.00 million for the quarter.

Brookfield Infrastructure Price Performance

NYSE BIPC traded down $0.32 on Friday, hitting $42.27. The company had a trading volume of 1,581,031 shares, compared to its average volume of 1,008,236. The company has a market capitalization of $5.20 billion, a PE ratio of 30.85 and a beta of 1.32. The company’s fifty day moving average price is $40.40 and its 200-day moving average price is $42.69. Brookfield Infrastructure has a 12-month low of $34.18 and a 12-month high of $51.72.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley reaffirmed an “underweight” rating and issued a $48.00 price target on shares of Brookfield Infrastructure in a report on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell” and a consensus price target of $48.00.

Hedge Funds Weigh In On Brookfield Infrastructure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its stake in shares of Brookfield Infrastructure by 1,125.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 576 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Brookfield Infrastructure by 338.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 710 shares of the company’s stock valued at $26,000 after buying an additional 548 shares in the last quarter. Motiv8 Investments LLC purchased a new position in Brookfield Infrastructure in the 4th quarter valued at about $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Brookfield Infrastructure in the 4th quarter worth about $42,000. Finally, Johnson Financial Group Inc. increased its stake in Brookfield Infrastructure by 260.7% during the 3rd quarter. Johnson Financial Group Inc. now owns 1,147 shares of the company’s stock worth $47,000 after buying an additional 829 shares in the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

About Brookfield Infrastructure

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.