Edgestream Partners L.P. Invests $875,000 in Brookfield Infrastructure Co. $BIPC

Edgestream Partners L.P. acquired a new position in shares of Brookfield Infrastructure Co. (NYSE:BIPC) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 22,136 shares of the company’s stock, valued at approximately $875,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BIPC. Arkadios Wealth Advisors lifted its stake in Brookfield Infrastructure by 22.5% in the 1st quarter. Arkadios Wealth Advisors now owns 5,516 shares of the company’s stock valued at $218,000 after buying an additional 1,013 shares in the last quarter. Opal Capital LLC increased its position in Brookfield Infrastructure by 5.4% during the first quarter. Opal Capital LLC now owns 148,599 shares of the company’s stock worth $5,873,000 after buying an additional 7,577 shares in the last quarter. Amundi purchased a new position in Brookfield Infrastructure during the first quarter worth $294,000. Royal Bank of Canada raised its holdings in shares of Brookfield Infrastructure by 8.2% in the first quarter. Royal Bank of Canada now owns 3,814,402 shares of the company’s stock worth $150,746,000 after acquiring an additional 288,349 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Brookfield Infrastructure by 1.9% in the first quarter. Empowered Funds LLC now owns 197,323 shares of the company’s stock worth $7,798,000 after acquiring an additional 3,664 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Stock Performance

Shares of NYSE BIPC opened at $40.39 on Wednesday. Brookfield Infrastructure Co. has a 1 year low of $34.18 and a 1 year high of $51.72. The firm’s 50 day moving average price is $40.33 and its 200 day moving average price is $42.63. The firm has a market cap of $4.97 billion, a P/E ratio of 30.85 and a beta of 1.32.

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

Wall Street Analysts Forecast Growth

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

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.