1,564,212 Shares in Brookfield Infrastructure Co. $BIPC Bought by Norges Bank

Norges Bank purchased a new stake in Brookfield Infrastructure Co. (NYSE:BIPC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,564,212 shares of the company’s stock, valued at approximately $71,014,000.

Other hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in Brookfield Infrastructure by 12.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,711 shares of the company’s stock worth $350,000 after purchasing an additional 855 shares in the last quarter. Corrado Advisors LLC boosted its stake in Brookfield Infrastructure by 0.6% in the 4th quarter. Corrado Advisors LLC now owns 38,425 shares of the company’s stock worth $1,744,000 after purchasing an additional 225 shares in the last quarter. Redmond Asset Management LLC boosted its stake in Brookfield Infrastructure by 2.2% in the 4th quarter. Redmond Asset Management LLC now owns 55,986 shares of the company’s stock worth $2,542,000 after purchasing an additional 1,200 shares in the last quarter. Principle Wealth Partners LLC bought a new position in Brookfield Infrastructure in the 4th quarter worth about $213,000. Finally, Global Retirement Partners LLC boosted its stake in Brookfield Infrastructure by 67.4% in the 4th quarter. Global Retirement Partners LLC now owns 12,990 shares of the company’s stock worth $590,000 after purchasing an additional 5,231 shares in the last quarter. Institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Stock Performance

NYSE BIPC opened at $41.30 on Friday. The company has a market capitalization of $5.08 billion, a P/E ratio of 30.85 and a beta of 1.31. Brookfield Infrastructure Co. has a one year low of $34.18 and a one year high of $51.72. The stock has a 50 day moving average price of $40.56 and a 200-day moving average price of $44.20.

Wall Street Analysts Forecast Growth

BIPC has been the topic of several research analyst reports. Wall Street Zen cut shares of Brookfield Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a report on Friday, March 27th. Finally, Morgan Stanley increased their target price on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, May 20th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell” and a consensus target price of $46.00.

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.