Morgan Stanley Has Lowered Expectations for Brookfield Infrastructure (NYSE:BIPC) Stock Price

Key Points

• Morgan Stanley lowered Brookfield Infrastructure’s price target from $50 to $48 while maintaining an “underweight” rating, implying approximately 31% upside from the prior close.
• Analyst sentiment remains weak: MarketBeat reports an average “Sell” rating and a consensus price target of $48, with two analysts rating the stock a Sell.
• BIPC shares fell 1.1% to $36.59, near the lower end of their 52-week range, while institutional investors held approximately 70.38% of the company’s stock.

Brookfield Infrastructure (NYSE:BIPC - Get Free Report) had its price target cut by analysts at Morgan Stanley from $50.00 to $48.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an "underweight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 31.18% from the stock's previous close.

BIPC has been the subject of a number of other research reports. Wall Street Zen raised shares of Brookfield Infrastructure from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings lowered Brookfield Infrastructure from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday. Two analysts have rated the stock with a Sell rating. According to MarketBeat.com, Brookfield Infrastructure presently has an average rating of "Sell" and a consensus price target of $48.00.

Brookfield Infrastructure Stock Down 1.1%

BIPC stock traded down $0.39 during trading on Tuesday, hitting $36.59. The company had a trading volume of 332,226 shares, compared to its average volume of 1,030,704. The firm has a market capitalization of $4.50 billion, a P/E ratio of 30.85 and a beta of 1.33. Brookfield Infrastructure has a 52-week low of $34.18 and a 52-week high of $51.72. The company has a 50 day simple moving average of $37.69 and a 200-day simple moving average of $39.40.

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

Institutional Trading of Brookfield Infrastructure

Several hedge funds have recently modified their holdings of BIPC. Oak Grove Capital LLC increased its holdings in shares of Brookfield Infrastructure by 5.2% during the third quarter. Oak Grove Capital LLC now owns 753,300 shares of the company's stock valued at $26,825,000 after acquiring an additional 37,300 shares in the last quarter. Stokes Capital Advisors LLC purchased a new position in shares of Brookfield Infrastructure in the 3rd quarter valued at approximately $227,000. Farther Finance Advisors LLC boosted its stake in Brookfield Infrastructure by 55.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,885 shares of the company's stock worth $103,000 after purchasing an additional 1,024 shares in the last quarter. Versant Capital Management Inc boosted its stake in Brookfield Infrastructure by 367.8% in the 3rd quarter. Versant Capital Management Inc now owns 697 shares of the company's stock worth $25,000 after purchasing an additional 548 shares in the last quarter. Finally, Van Hulzen Asset Management LLC purchased a new stake in Brookfield Infrastructure during the 2nd quarter worth approximately $312,000. 70.38% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Company Profile

Brookfield Infrastructure Corporation NYSE: BIPC is a global infrastructure company that owns and operates essential assets through its relationship with Brookfield Infrastructure Partners. Its portfolio is organized around utilities, transport, midstream and data infrastructure, with businesses serving industries and customers that depend on reliable infrastructure networks.

The company's assets include electricity transmission and distribution systems, natural gas and other energy infrastructure, transportation facilities such as ports, rail and toll roads, and digital infrastructure including data centers and telecommunications networks.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.