Brookfield Infrastructure (NYSE:BIPC) Rating Lowered to Sell at Wall Street Zen

Brookfield Infrastructure (NYSE:BIPC) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other research analysts have also recently weighed in on BIPC. Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Friday, March 27th. Morgan Stanley reissued an “underweight” rating and set a $45.00 price objective (down from $57.00) on shares of Brookfield Infrastructure in a research note on Monday, March 23rd. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell” and an average price target of $45.00.

Brookfield Infrastructure Price Performance

Shares of BIPC opened at $37.43 on Friday. The firm has a 50 day simple moving average of $42.93 and a 200-day simple moving average of $44.95. Brookfield Infrastructure has a 1-year low of $34.18 and a 1-year high of $51.72. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 30.85 and a beta of 1.29.

Institutional Trading of Brookfield Infrastructure

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Brookfield Infrastructure by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 6,022,513 shares of the company’s stock worth $273,407,000 after acquiring an additional 31,529 shares during the period. Bank of Montreal Can grew its stake in Brookfield Infrastructure by 10.3% in the 4th quarter. Bank of Montreal Can now owns 5,289,204 shares of the company’s stock worth $240,120,000 after acquiring an additional 492,354 shares during the period. Bank of America Corp DE grew its stake in Brookfield Infrastructure by 10.3% in the 3rd quarter. Bank of America Corp DE now owns 4,346,550 shares of the company’s stock worth $178,730,000 after acquiring an additional 406,485 shares during the period. Morgan Stanley grew its stake in Brookfield Infrastructure by 33.3% in the 4th quarter. Morgan Stanley now owns 4,165,872 shares of the company’s stock worth $189,131,000 after acquiring an additional 1,041,474 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Brookfield Infrastructure by 2.1% in the 4th quarter. Principal Financial Group Inc. now owns 3,489,975 shares of the company’s stock worth $158,446,000 after acquiring an additional 71,814 shares during the period. 70.38% of the stock is owned by hedge funds and other institutional investors.

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.