Brookfield Infrastructure Co. $BIPC Holdings Trimmed by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Brookfield Infrastructure stake by 85.7% in the second quarter, selling 61,992 shares and retaining 10,329 shares valued at approximately $398,000. Institutional investors collectively own 70.38% of the company.
• BIPC opened at $34.56, near its 52-week low of $34.18 and below its 50-day and 200-day moving averages. The company reported quarterly revenue of $940 million and a loss of $0.56 per share.
• Analyst sentiment remains negative: MarketBeat lists a consensus “Sell” rating and a $50 average price target, while Morgan Stanley maintained an “underweight” rating with the same price objective.

Engineers Gate Manager LP lowered its stake in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 85.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,329 shares of the company's stock after selling 61,992 shares during the period. Engineers Gate Manager LP's holdings in Brookfield Infrastructure were worth $398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Brookfield Infrastructure by 8.2% during the first quarter. Royal Bank of Canada now owns 3,814,402 shares of the company's stock worth $150,746,000 after buying an additional 288,349 shares during the period. TD Waterhouse Canada Inc. lifted its position in shares of Brookfield Infrastructure by 8.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,010,191 shares of the company's stock worth $76,964,000 after purchasing an additional 162,994 shares during the last quarter. Norges Bank acquired a new position in shares of Brookfield Infrastructure during the fourth quarter worth $71,014,000. TD Asset Management Inc grew its stake in shares of Brookfield Infrastructure by 0.3% during the fourth quarter. TD Asset Management Inc now owns 1,198,945 shares of the company's stock worth $54,468,000 after purchasing an additional 3,950 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Brookfield Infrastructure by 8.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,118,467 shares of the company's stock valued at $44,195,000 after buying an additional 83,626 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company's stock.

Brookfield Infrastructure Price Performance

NYSE BIPC opened at $34.56 on Friday. The company has a fifty day moving average of $38.91 and a two-hundred day moving average of $40.02. The company has a market capitalization of $4.25 billion, a PE ratio of 30.85 and a beta of 1.31. Brookfield Infrastructure Co. has a 1 year low of $34.18 and a 1 year high of $51.72.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BIPC. Weiss Ratings restated a "sell (d-)" rating on shares of Brookfield Infrastructure in a research note on Monday. Morgan Stanley reiterated an "underweight" rating and issued a $50.00 price objective on shares of Brookfield Infrastructure in a report on Wednesday, August 12th. Finally, Wall Street Zen raised Brookfield Infrastructure from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat, Brookfield Infrastructure has a consensus rating of "Sell" and an average price target of $50.00.

Brookfield Infrastructure Profile

Brookfield Infrastructure Corporation NYSE: BIPC is a publicly traded company that provides investors with economic exposure to Brookfield Infrastructure Partners L.P., one of the world's largest owners and operators of infrastructure assets. BIPC and Brookfield Infrastructure Partners have equivalent economic interests and are managed by Brookfield Asset Management.

Brookfield Infrastructure's operations are organized across four principal segments: utilities, transport, midstream, and data infrastructure.

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