K.J. Harrison & Partners Inc Has $664,000 Position in Brookfield Infrastructure Co. $BIPC

K.J. Harrison & Partners Inc cut its stake in Brookfield Infrastructure Co. (NYSE:BIPC) by 25.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,985 shares of the company’s stock after selling 5,500 shares during the period. K.J. Harrison & Partners Inc’s holdings in Brookfield Infrastructure were worth $664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings 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 acquiring an additional 548 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Brookfield Infrastructure in the 1st quarter valued at $29,000. Farther Finance Advisors LLC raised its holdings in Brookfield Infrastructure by 1,307.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 746 shares of the company’s stock valued at $31,000 after acquiring an additional 693 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Brookfield Infrastructure by 117.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,064 shares of the company’s stock valued at $39,000 after acquiring an additional 574 shares in the last quarter. Finally, MAI Capital Management raised its holdings in Brookfield Infrastructure by 273.9% in the 1st quarter. MAI Capital Management now owns 1,133 shares of the company’s stock valued at $41,000 after acquiring an additional 830 shares in the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Price Performance

Shares of Brookfield Infrastructure stock opened at $45.33 on Monday. Brookfield Infrastructure Co. has a one year low of $32.08 and a one year high of $47.71. The stock’s 50-day moving average is $42.34 and its 200 day moving average is $40.72. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 30.85 and a beta of 1.45.

Wall Street Analyst Weigh In

BIPC has been the subject of several analyst reports. Morgan Stanley lifted their price objective on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, August 26th. Wall Street Zen raised Brookfield Infrastructure from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Infrastructure in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $46.00.

Brookfield Infrastructure Company Profile

Brookfield Infrastructure Corporation, together with its subsidiaries, owns and operates regulated natural gas transmission systems in Brazil. The company also engages in the regulated gas and electricity distribution operations in the United Kingdom; and electricity transmission and distribution, as well as gas distribution in Australia.