Royal Bank of Canada Buys 288,349 Shares of Brookfield Infrastructure Co. $BIPC

Royal Bank of Canada increased its position in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 8.2% during the 1st quarter, Holdings Channel reports. The fund owned 3,814,402 shares of the company’s stock after buying an additional 288,349 shares during the quarter. Royal Bank of Canada’s holdings in Brookfield Infrastructure were worth $150,746,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Brookfield Infrastructure in the fourth quarter valued at approximately $71,014,000. Morgan Stanley boosted its position in shares of 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 grew its holdings in shares of Brookfield Infrastructure by 10.3% in the 4th quarter. Bank of Montreal Can now owns 5,289,204 shares of the company’s stock valued at $240,120,000 after buying an additional 492,354 shares during the period. Bank of America Corp DE grew its holdings in shares of 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 valued at $178,730,000 after buying an additional 406,485 shares during the period. Finally, Barclays PLC grew its holdings in shares of Brookfield Infrastructure by 73.4% in the 4th quarter. Barclays PLC now owns 911,482 shares of the company’s stock valued at $41,381,000 after buying an additional 385,700 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on BIPC shares. Morgan Stanley reaffirmed an “underweight” rating and set a $48.00 price objective on shares of Brookfield Infrastructure in a research note on Tuesday, July 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Wednesday, June 24th. Finally, Wall Street Zen downgraded Brookfield Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell” and an average price target of $48.00.

Brookfield Infrastructure Stock Performance

Shares of NYSE BIPC opened at $42.60 on Friday. The stock has a 50 day moving average price of $40.39 and a 200 day moving average price of $42.69. The stock has a market capitalization of $5.24 billion, a PE ratio of 30.85 and a beta of 1.32. Brookfield Infrastructure Co. has a 52 week low of $34.18 and a 52 week high of $51.72.

Brookfield Infrastructure (NYSE:BIPC) last released its earnings results on Thursday, July 30th. The company reported ($0.56) earnings per share for the quarter. The company had revenue of $940.00 million for the quarter.

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.