Brookfield Infrastructure (NYSE:BIPC) Trading Down 4.6% - Here's What Happened

Key Points

• Brookfield Infrastructure (BIPC) shares fell 4.6% on Tuesday to $44.11, trading as low as $43.95 on volume of about 555,304 shares, roughly 20% below its average daily volume.
• Analysts are mixed with a consensus rating of "Reduce" and an average target price of $57, including a Morgan Stanley $57 target, a Weiss Ratings "sell (d-)" and a Wall Street Zen upgrade to "buy".
• The company has a market capitalization of $5.28 billion, a PE ratio of 30.85, 50- and 200-day moving averages of $47.33 and $45.23 respectively, and institutional investors own about 70.4% of the stock.

Brookfield Infrastructure Co. (NYSE:BIPC - Get Free Report) was down 4.6% on Tuesday . The company traded as low as $43.95 and last traded at $44.11. Approximately 555,304 shares changed hands during trading, a decline of 20% from the average daily volume of 691,892 shares. The stock had previously closed at $46.24.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley set a $57.00 target price on Brookfield Infrastructure in a report on Wednesday, January 28th. Weiss Ratings restated a "sell (d-)" rating on shares of Brookfield Infrastructure in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Brookfield Infrastructure from a "hold" rating to a "buy" rating in a research note on Saturday, December 6th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $57.00.

Brookfield Infrastructure Price Performance

The stock's 50 day moving average is $47.33 and its two-hundred day moving average is $45.23. The stock has a market capitalization of $5.28 billion, a PE ratio of 30.85 and a beta of 1.36.

Institutional Investors Weigh In On Brookfield Infrastructure

A number of large investors have recently added to or reduced their stakes in BIPC. Caitong International Asset Management Co. Ltd increased its stake in Brookfield Infrastructure by 1,125.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 576 shares of the company's stock valued at $26,000 after purchasing an additional 529 shares in the last quarter. City Holding Co. bought a new stake in shares of Brookfield Infrastructure during the 3rd quarter valued at $25,000. Geneos Wealth Management Inc. grew its stake in Brookfield Infrastructure by 338.3% during the first quarter. Geneos Wealth Management Inc. now owns 710 shares of the company's stock worth $26,000 after buying an additional 548 shares in the last quarter. Motiv8 Investments LLC bought a new position in Brookfield Infrastructure in the fourth quarter valued at approximately $34,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Brookfield Infrastructure by 374.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 812 shares of the company's stock worth $34,000 after buying an additional 641 shares in the last quarter. Institutional investors own 70.38% of the company's stock.

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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