Brookfield Infrastructure (NYSE:BIPC) Stock Crosses Above 50 Day Moving Average – Here’s Why

Brookfield Infrastructure Co. (NYSE:BIPC)’s stock price passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $37.05 and traded as high as $37.75. Brookfield Infrastructure shares last traded at $37.59, with a volume of 1,079,820 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of Brookfield Infrastructure from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, October 8th. Morgan Stanley lowered their price objective on shares of Brookfield Infrastructure from $50.00 to $48.00 and set an “underweight” rating for the company in a research report on Tuesday, October 13th. Finally, Wall Street Zen raised Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Two analysts have rated the stock with a Sell rating. According to data from MarketBeat, the company presently has a consensus rating of “Sell” and a consensus target price of $48.00.

Brookfield Infrastructure Stock Up 1.8%

The firm’s 50 day simple moving average is $37.05 and its two-hundred day simple moving average is $41.10. The stock has a market cap of $4.62 billion, a P/E ratio of 30.85 and a beta of 1.33.

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

Institutional Trading of Brookfield Infrastructure

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new stake in shares of Brookfield Infrastructure during the second quarter valued at about $14,071,000. Quantinno Capital Management LP grew its position in Brookfield Infrastructure by 243.0% in the 1st quarter. Quantinno Capital Management LP now owns 64,194 shares of the company’s stock valued at $2,536,000 after buying an additional 45,476 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Brookfield Infrastructure in the 2nd quarter valued at about $1,317,000. Groupe la Francaise bought a new position in Brookfield Infrastructure in the 1st quarter valued at about $2,318,000. Finally, TD Waterhouse Canada Inc. increased its stake in Brookfield Infrastructure by 8.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,010,191 shares of the company’s stock valued at $76,964,000 after buying an additional 162,994 shares during the period. 70.38% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Infrastructure

Brookfield Infrastructure Corporation (NYSE: BIPC) is an infrastructure company created by Brookfield Infrastructure to provide investors with a corporate ownership structure for an interest in its global infrastructure operations. BIPC has economic exposure to the same underlying business as Brookfield Infrastructure Partners, while its shares are structured as a corporation rather than a partnership.

The company’s operations span several infrastructure sectors, including utilities, transport, midstream infrastructure and data infrastructure.