Brookfield Infrastructure (NYSE:BIPC) Given “Underweight” Rating at Morgan Stanley

Morgan Stanley reissued their underweight rating on shares of Brookfield Infrastructure (NYSE:BIPC) in a research note published on Monday morning, MarketBeat reports. Morgan Stanley currently has a $45.00 price objective on the stock, down from their previous price objective of $57.00.

A number of other brokerages also recently issued reports on BIPC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Monday, December 29th. Wall Street Zen raised shares of Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, Brookfield Infrastructure has a consensus rating of “Sell” and an average price target of $45.00.

Brookfield Infrastructure Stock Performance

Shares of Brookfield Infrastructure stock opened at $38.83 on Monday. The business has a 50-day simple moving average of $47.04 and a 200-day simple moving average of $45.27. Brookfield Infrastructure has a one year low of $32.08 and a one year high of $51.72. The company has a market cap of $4.66 billion, a PE ratio of 30.85 and a beta of 1.36.

Hedge Funds Weigh In On Brookfield Infrastructure

Several hedge funds have recently added to or reduced their stakes in the stock. Corrado Advisors LLC raised its stake in Brookfield Infrastructure by 0.6% during the 4th quarter. Corrado Advisors LLC now owns 38,425 shares of the company’s stock worth $1,744,000 after acquiring an additional 225 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in Brookfield Infrastructure by 0.8% in the fourth quarter. Kestra Advisory Services LLC now owns 29,803 shares of the company’s stock valued at $1,353,000 after acquiring an additional 239 shares in the last quarter. Chapman Financial Group LLC boosted its stake in Brookfield Infrastructure by 3.0% in the fourth quarter. Chapman Financial Group LLC now owns 8,946 shares of the company’s stock valued at $406,000 after acquiring an additional 260 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Brookfield Infrastructure by 2.4% during the fourth quarter. Benjamin Edwards Inc. now owns 11,751 shares of the company’s stock worth $534,000 after purchasing an additional 274 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Brookfield Infrastructure by 8.6% during the third quarter. US Bancorp DE now owns 4,136 shares of the company’s stock worth $170,000 after purchasing an additional 326 shares during the last quarter. 70.38% of the stock is currently 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.