Brookfield Infrastructure (NYSE:BIPC) Shares Break Above Fifty Day Moving Average – What’s Next?

Brookfield Infrastructure Co. (NYSE:BIPC) shares crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $37.05 and traded as high as $37.75. Brookfield Infrastructure shares last traded at $37.59, with a volume of 1,079,820 shares trading hands.

Wall Street Analysts Forecast Growth

BIPC has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Brookfield Infrastructure from $50.00 to $48.00 and set an “underweight” rating on the stock in a report on Tuesday, October 13th. Weiss Ratings cut shares of Brookfield Infrastructure from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen upgraded shares of Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Two investment analysts have rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has a consensus rating of “Sell” and a consensus price target of $48.00.

Brookfield Infrastructure Stock Down 0.3%

The company has a fifty day moving average of $37.01 and a 200 day moving average of $41.06. The company has a market cap of $4.61 billion, a P/E ratio of 30.85 and a beta of 1.33.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in Brookfield Infrastructure by 8.2% in the 1st quarter. Royal Bank of Canada now owns 3,814,402 shares of the company’s stock worth $150,746,000 after purchasing an additional 288,349 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in Brookfield Infrastructure by 8.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,010,191 shares of the company’s stock worth $76,964,000 after purchasing an additional 162,994 shares during the period. Dimensional Fund Advisors LP grew its holdings in Brookfield Infrastructure by 8.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,118,467 shares of the company’s stock valued at $44,195,000 after buying an additional 83,626 shares in the last quarter. Oak Grove Capital LLC grew its holdings in Brookfield Infrastructure by 5.2% during the 3rd quarter. Oak Grove Capital LLC now owns 753,300 shares of the company’s stock valued at $26,825,000 after buying an additional 37,300 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Brookfield Infrastructure during the 2nd quarter valued at approximately $14,071,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

About Brookfield Infrastructure

Brookfield Infrastructure Corporation (NYSE: BIPC) is an infrastructure company created by Brookfield Infrastructure to provide investors with a corporate ownership structure for an interest in its global infrastructure operations. BIPC has economic exposure to the same underlying business as Brookfield Infrastructure Partners, while its shares are structured as a corporation rather than a partnership.

The company’s operations span several infrastructure sectors, including utilities, transport, midstream infrastructure and data infrastructure.