Brookfield Infrastructure (NYSE:BIPC – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.56) earnings per share for the quarter, FiscalAI reports. The business had revenue of $940.00 million during the quarter.
Brookfield Infrastructure Stock Down 1.5%
Brookfield Infrastructure stock traded down $0.63 during midday trading on Thursday, reaching $42.60. The company’s stock had a trading volume of 982,060 shares, compared to its average volume of 1,001,141. The company has a market cap of $5.24 billion, a P/E ratio of 30.85 and a beta of 1.32. The business has a 50-day simple moving average of $40.39 and a 200-day simple moving average of $42.70. Brookfield Infrastructure has a fifty-two week low of $34.18 and a fifty-two week high of $51.72.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Wednesday, June 24th. Morgan Stanley reaffirmed an “underweight” rating and issued a $48.00 target price on shares of Brookfield Infrastructure in a report on Tuesday, July 21st. Finally, Wall Street Zen downgraded shares of Brookfield Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Brookfield Infrastructure presently has an average rating of “Sell” and a consensus price target of $48.00.
Institutional Investors Weigh In On Brookfield Infrastructure
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in Brookfield Infrastructure during the fourth quarter worth approximately $71,014,000. Morgan Stanley raised its holdings in Brookfield Infrastructure by 33.3% during the fourth quarter. Morgan Stanley now owns 4,165,872 shares of the company’s stock worth $189,131,000 after purchasing an additional 1,041,474 shares in the last quarter. Bank of Montreal Can raised its holdings in Brookfield Infrastructure by 10.3% during the fourth quarter. Bank of Montreal Can now owns 5,289,204 shares of the company’s stock worth $240,120,000 after purchasing an additional 492,354 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Brookfield Infrastructure by 10.3% during the 3rd quarter. Bank of America Corp DE now owns 4,346,550 shares of the company’s stock worth $178,730,000 after buying an additional 406,485 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Brookfield Infrastructure by 73.4% during the 4th quarter. Barclays PLC now owns 911,482 shares of the company’s stock worth $41,381,000 after buying an additional 385,700 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.
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.
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