Brookfield Infrastructure (NYSE:BIPC) Announces Earnings Results

Brookfield Infrastructure (NYSE:BIPC) released its earnings results on Thursday. The company reported ($0.56) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $940.00 million during the quarter.

Brookfield Infrastructure Stock Up 0.0%

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Brookfield Infrastructure

Several institutional investors have recently bought and sold shares of BIPC. Vanguard Group Inc. increased its position in shares of Brookfield Infrastructure by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 6,022,513 shares of the company’s stock worth $273,407,000 after purchasing an additional 31,529 shares in the last quarter. Bank of Montreal Can boosted its position 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 worth $240,120,000 after purchasing an additional 492,354 shares in the last quarter. Bank of America Corp DE boosted its position 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 worth $178,730,000 after purchasing an additional 406,485 shares in the last quarter. Morgan Stanley grew its stake in Brookfield Infrastructure by 33.3% during the 4th quarter. Morgan Stanley now owns 4,165,872 shares of the company’s stock worth $189,131,000 after buying an additional 1,041,474 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in Brookfield Infrastructure by 8.2% during the 1st quarter. Royal Bank of Canada now owns 3,814,402 shares of the company’s stock worth $150,746,000 after buying an additional 288,349 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

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.