Citigroup Inc. Buys 85,511 Shares of Brookfield Infrastructure Co. $BIPC

Citigroup Inc. grew its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 22.4% during the 3rd quarter, Holdings Channel reports. The firm owned 467,633 shares of the company’s stock after buying an additional 85,511 shares during the period. Citigroup Inc.’s holdings in Brookfield Infrastructure were worth $19,211,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Brookfield Infrastructure by 2.1% in the third quarter. Vanguard Group Inc. now owns 5,990,984 shares of the company’s stock valued at $246,108,000 after buying an additional 124,696 shares in the last quarter. Bank of Montreal Can grew its position in shares of Brookfield Infrastructure by 9.1% in the 2nd quarter. Bank of Montreal Can now owns 4,522,487 shares of the company’s stock valued at $188,293,000 after acquiring an additional 375,586 shares during the period. Principal Financial Group Inc. increased its stake in shares of Brookfield Infrastructure by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 3,418,161 shares of the company’s stock worth $140,557,000 after purchasing an additional 33,308 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Brookfield Infrastructure by 66.4% during the 3rd quarter. HighTower Advisors LLC now owns 2,533,525 shares of the company’s stock worth $104,178,000 after purchasing an additional 1,011,401 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Brookfield Infrastructure by 2.3% in the 2nd quarter. State Street Corp now owns 1,977,356 shares of the company’s stock valued at $82,258,000 after purchasing an additional 44,506 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Brookfield Infrastructure Stock Performance

NYSE:BIPC opened at $50.02 on Friday. Brookfield Infrastructure Co. has a 52 week low of $32.08 and a 52 week high of $51.72. The firm’s 50-day simple moving average is $46.91 and its 200 day simple moving average is $44.49. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 30.85 and a beta of 1.36.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BIPC. Wall Street Zen raised Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Morgan Stanley set a $57.00 price target on Brookfield Infrastructure in a research note on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $57.00.

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.