Brookfield Infrastructure (NYSE:BIPC) Reaches New 12-Month Low - Here's Why

Key Points

• Shares of Brookfield Infrastructure hit a new 52-week low, trading as low as $34.18 intraday and last at $35.54 versus a prior close of $39.78 on volume of about 5.88 million shares.
• Analyst sentiment has weakened — Wall Street Zen cut its rating to hold, Morgan Stanley kept an underweight view and cut its target to $45 (from $57), and Weiss Ratings kept a sell; MarketBeat shows a consensus rating of "Sell" with an average price target of $45.
• The stock trades below its technical averages (50‑day SMA $43.13, 200‑day SMA $45.02) and has a market cap of $4.37 billion with a PE of 30.85, while about 70.38% of shares are held by institutional investors.

Shares of Brookfield Infrastructure Co. (NYSE:BIPC - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $34.18 and last traded at $35.54, with a volume of 5884908 shares. The stock had previously closed at $39.78.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BIPC shares. Wall Street Zen downgraded Brookfield Infrastructure from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Morgan Stanley reissued an "underweight" rating and issued a $45.00 target price (down from $57.00) on shares of Brookfield Infrastructure in a research report on Monday, March 23rd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Brookfield Infrastructure in a research report on Friday, March 27th. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, Brookfield Infrastructure currently has a consensus rating of "Sell" and an average price target of $45.00.

Brookfield Infrastructure Price Performance

The company has a market capitalization of $4.37 billion, a PE ratio of 30.85 and a beta of 1.40. The firm's fifty day simple moving average is $43.13 and its 200 day simple moving average is $45.02.

Institutional Investors Weigh In On Brookfield Infrastructure

Several hedge funds have recently added to or reduced their stakes in the business. Credit Industriel ET Commercial purchased a new stake in Brookfield Infrastructure in the first quarter valued at $9,234,000. Pathway Financial Advisers LLC boosted its holdings in Brookfield Infrastructure by 8.5% in the first quarter. Pathway Financial Advisers LLC now owns 8,197 shares of the company's stock valued at $324,000 after purchasing an additional 642 shares during the last quarter. Comprehensive Money Management Services LLC boosted its holdings in Brookfield Infrastructure by 3.2% in the first quarter. Comprehensive Money Management Services LLC now owns 32,391 shares of the company's stock valued at $1,280,000 after purchasing an additional 1,006 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Brookfield Infrastructure by 9.6% in the first quarter. Pictet Asset Management Holding SA now owns 24,431 shares of the company's stock valued at $962,000 after purchasing an additional 2,139 shares during the last quarter. Finally, TrueMark Investments LLC boosted its holdings in Brookfield Infrastructure by 6.3% in the first quarter. TrueMark Investments LLC now owns 148,599 shares of the company's stock valued at $5,873,000 after purchasing an additional 8,843 shares during the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

About Brookfield Infrastructure

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.

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