169,324 Brookfield Infrastructure Co. $BIPC Shares Acquired by Evergreen Capital Management LLC

Key Points

• Evergreen Capital Management increased its Brookfield Infrastructure stake by 335.3%, acquiring 169,324 shares and bringing its holdings to 219,822 shares worth approximately $7.8 million. Institutional investors collectively own 70.38% of BIPC.
• Analyst sentiment remains bearish: Morgan Stanley lowered its price target to $48 and maintained an “underweight” rating, while MarketBeat reports a consensus rating of “Sell” and a $48 price target.
• BIPC shares opened at $37.29, near their 50-day average of $37.20 and below their 52-week high of $51.72. In its latest quarter, the company reported revenue of $940 million and a loss of $0.56 per share.

Evergreen Capital Management LLC grew its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 335.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,822 shares of the company's stock after purchasing an additional 169,324 shares during the quarter. Evergreen Capital Management LLC owned about 0.18% of Brookfield Infrastructure worth $7,828,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Axxcess Wealth Management LLC increased its holdings in Brookfield Infrastructure by 40.7% during the third quarter. Axxcess Wealth Management LLC now owns 8,832 shares of the company's stock worth $315,000 after buying an additional 2,556 shares during the last quarter. Gold Investment Management Ltd. increased its position in Brookfield Infrastructure by 958.7% during the third quarter. Gold Investment Management Ltd. now owns 1,281 shares of the company's stock worth $46,000 after buying an additional 1,160 shares during the last quarter. WealthBridge Capital Management LLC bought a new stake in Brookfield Infrastructure in the third quarter valued at approximately $285,000. Pension & Wealth Management Advisors Inc. raised its stake in Brookfield Infrastructure by 227.1% in the third quarter. Pension & Wealth Management Advisors Inc. now owns 8,785 shares of the company's stock valued at $313,000 after buying an additional 6,099 shares during the period. Finally, Oak Grove Capital LLC lifted its position in shares of Brookfield Infrastructure by 5.2% in the third 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 during the last quarter. Institutional investors own 70.38% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on BIPC shares. Weiss Ratings cut shares of Brookfield Infrastructure from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, October 8th. Morgan Stanley decreased their price objective on Brookfield Infrastructure from $50.00 to $48.00 and set an "underweight" rating on the stock in a report on Tuesday, October 13th. Finally, Wall Street Zen raised Brookfield Infrastructure from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Two investment analysts have rated the stock with a Sell rating. According to data from MarketBeat, the company has a consensus rating of "Sell" and a consensus price target of $48.00.

Brookfield Infrastructure Stock Performance

Shares of BIPC stock opened at $37.29 on Monday. The stock's fifty day moving average price is $37.20 and its two-hundred day moving average price is $39.28. The company has a market cap of $4.59 billion, a PE ratio of 30.85 and a beta of 1.33. Brookfield Infrastructure Co. has a fifty-two week low of $34.18 and a fifty-two week high of $51.72.

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

Brookfield Infrastructure Company Profile

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.

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