Brookfield Infrastructure (NYSE:BIPC) Lowered to Hold Rating by Wall Street Zen

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

Several other equities analysts also recently issued reports on the stock. Morgan Stanley reissued an “underweight” rating and set a $45.00 price target (down from $57.00) on shares of Brookfield Infrastructure in a report on Monday, March 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell” and an average price target of $45.00.

Brookfield Infrastructure Price Performance

Shares of BIPC opened at $37.83 on Friday. Brookfield Infrastructure has a 12 month low of $32.08 and a 12 month high of $51.72. The stock has a fifty day moving average price of $46.52 and a 200 day moving average price of $45.14. The company has a market cap of $4.54 billion, a P/E ratio of 30.85 and a beta of 1.36.

Institutional Investors Weigh In On Brookfield Infrastructure

A number of hedge funds and other institutional investors have recently modified their holdings of BIPC. Envestnet Asset Management Inc. boosted its holdings in shares of 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 acquiring an additional 30,696 shares in the last quarter. Barnett & Company Inc. lifted its position in Brookfield Infrastructure by 54.7% in the third quarter. Barnett & Company Inc. now owns 42,550 shares of the company’s stock worth $1,750,000 after purchasing an additional 15,050 shares during the period. Citigroup Inc. lifted its position in Brookfield Infrastructure by 22.4% in the third quarter. Citigroup Inc. now owns 467,633 shares of the company’s stock worth $19,211,000 after purchasing an additional 85,511 shares during the period. Barclays PLC boosted its stake in Brookfield Infrastructure by 32.9% during the 3rd quarter. Barclays PLC now owns 525,782 shares of the company’s stock valued at $21,620,000 after purchasing an additional 130,258 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Brookfield Infrastructure by 6.1% during the 3rd quarter. Bank of Montreal Can now owns 4,796,850 shares of the company’s stock valued at $197,246,000 after purchasing an additional 274,363 shares during the period. 70.38% of the stock is currently owned by 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.