Brookfield Infrastructure (NYSE:BIPC) Trading Down 7.7% - What's Next?

Key Points

• Shares fell 7.7% to $36.72 on Wednesday, with trading volume about 243,100 shares — roughly 72% below the stock's average daily volume of 859,740.
• Analysts have turned negative: Weiss Ratings kept a "sell," Wall Street Zen cut to "hold," and Morgan Stanley kept an "underweight" while cutting its price target to $45, leaving a MarketBeat consensus rating of Sell with a $45 consensus target.
• The stock is trading well below its 50-day ($43.39) and 200-day ($45.08) moving averages; Brookfield Infrastructure has a $4.3 billion market cap, a P/E of 30.85, and about 70% institutional ownership.

Brookfield Infrastructure Co. (NYSE:BIPC - Get Free Report) shares dropped 7.7% during trading on Wednesday . The company traded as low as $36.72 and last traded at $36.72. Approximately 243,100 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 859,740 shares. The stock had previously closed at $39.78.

Wall Street Analysts Forecast Growth

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

Brookfield Infrastructure Stock Performance

The business has a fifty day simple moving average of $43.39 and a 200 day simple moving average of $45.08. The company has a market cap of $4.30 billion, a P/E ratio of 30.85 and a beta of 1.40.

Institutional Trading of Brookfield Infrastructure

Institutional investors and hedge funds have recently made changes to their positions in the stock. City Holding Co. acquired a new stake in shares of Brookfield Infrastructure during the 3rd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd raised its position in shares of Brookfield Infrastructure by 1,125.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 576 shares of the company's stock worth $26,000 after purchasing an additional 529 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Brookfield Infrastructure by 338.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 710 shares of the company's stock worth $26,000 after purchasing an additional 548 shares during the period. Smartleaf Asset Management LLC raised its position 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 purchasing an additional 641 shares during the period. Finally, Motiv8 Investments LLC acquired a new stake in shares of Brookfield Infrastructure during the 4th quarter worth approximately $34,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

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.

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