Morgan Stanley Reaffirms “Underweight” Rating for Brookfield Infrastructure (NYSE:BIPC)

Brookfield Infrastructure (NYSE:BIPC)‘s stock had its “underweight” rating reaffirmed by stock analysts at Morgan Stanley in a research note issued on Monday, Marketbeat Ratings reports. They currently have a $45.00 target price on the stock, down from their previous target price of $57.00. Morgan Stanley’s price objective indicates a potential upside of 17.86% from the company’s previous close.

Several other brokerages have also recently issued reports on BIPC. Wall Street Zen upgraded shares of Brookfield Infrastructure from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell” and an average price target of $45.00.

Brookfield Infrastructure Stock Down 1.7%

Shares of BIPC stock opened at $38.18 on Monday. The company has a 50 day moving average price of $46.92 and a 200-day moving average price of $45.26. Brookfield Infrastructure has a 52 week low of $32.08 and a 52 week high of $51.72. The firm has a market capitalization of $4.58 billion, a PE ratio of 30.85 and a beta of 1.36.

Institutional Trading of Brookfield Infrastructure

Hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. raised its stake in shares of Brookfield Infrastructure by 1.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 35,039 shares of the company’s stock worth $1,591,000 after buying an additional 453 shares during the period. Corient Private Wealth LLC lifted its position in shares of Brookfield Infrastructure by 9.4% during the 4th quarter. Corient Private Wealth LLC now owns 14,841 shares of the company’s stock valued at $674,000 after buying an additional 1,271 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Brookfield Infrastructure by 1,125.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 576 shares of the company’s stock valued at $26,000 after acquiring an additional 529 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Brookfield Infrastructure by 55.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,985 shares of the company’s stock valued at $408,000 after acquiring an additional 3,214 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Brookfield Infrastructure by 39.5% in the 4th quarter. Mackenzie Financial Corp now owns 163,965 shares of the company’s stock worth $7,450,000 after acquiring an additional 46,402 shares in the last quarter. Institutional investors own 70.38% of the company’s stock.

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.