Brookfield Infrastructure (NYSE:BIPC) Stock Gets Price Target Reduction from Morgan Stanley

Brookfield Infrastructure (NYSE:BIPC) had its price objective decreased by Morgan Stanley from $50.00 to $48.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings cut Brookfield Infrastructure from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, October 8th. Wall Street Zen raised Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Two equities research analysts have rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell” and an average target price of $48.00.

Brookfield Infrastructure Stock Performance

Brookfield Infrastructure stock opened at $37.59 on Tuesday. The company has a 50 day moving average price of $37.50 and a 200-day moving average price of $39.38. Brookfield Infrastructure has a fifty-two week low of $34.18 and a fifty-two week high of $51.72. The company has a market capitalization of $4.62 billion, a PE ratio of 30.85 and a beta of 1.33.

Brookfield Infrastructure (NYSE:BIPC) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter. The company had revenue of $940.00 million during the quarter.

Hedge Funds Weigh In On Brookfield Infrastructure

Several hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new position in Brookfield Infrastructure during the 2nd quarter valued at approximately $14,071,000. Quantinno Capital Management LP raised its stake in shares of Brookfield Infrastructure by 243.0% during the 1st quarter. Quantinno Capital Management LP now owns 64,194 shares of the company’s stock valued at $2,536,000 after buying an additional 45,476 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Brookfield Infrastructure in the second quarter valued at approximately $1,317,000. Groupe la Francaise acquired a new position in shares of Brookfield Infrastructure in the 1st quarter valued at $2,318,000. Finally, TD Waterhouse Canada Inc. raised its position in shares of Brookfield Infrastructure by 8.8% in the second quarter. TD Waterhouse Canada Inc. now owns 2,010,191 shares of the company’s stock worth $76,964,000 after acquiring an additional 162,994 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

About Brookfield Infrastructure

Brookfield Infrastructure Corporation (NYSE: BIPC) is a global infrastructure company that owns and operates essential assets through its relationship with Brookfield Infrastructure Partners. Its portfolio is organized around utilities, transport, midstream and data infrastructure, with businesses serving industries and customers that depend on reliable infrastructure networks.

The company’s assets include electricity transmission and distribution systems, natural gas and other energy infrastructure, transportation facilities such as ports, rail and toll roads, and digital infrastructure including data centers and telecommunications networks.