Epoch Investment Partners Inc. Trims Stake in Brookfield Infrastructure Co. $BIPC

Key Points

• Epoch Investment Partners reduced its Brookfield Infrastructure stake by 9.0% in the first quarter, selling 102,169 shares and leaving it with 1,034,703 shares worth about $40.9 million.
• Other institutional investors also made modest adjustments, and hedge funds and institutions now own 70.38% of Brookfield Infrastructure’s shares.
• Wall Street sentiment remains weak: the stock has a consensus Sell rating with an average target price of $48, while shares recently traded at $41.53.

Epoch Investment Partners Inc. cut its stake in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 9.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,034,703 shares of the company's stock after selling 102,169 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.84% of Brookfield Infrastructure worth $40,891,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BIPC. Corrado Advisors LLC grew its stake in shares of Brookfield Infrastructure by 0.6% during the 4th quarter. Corrado Advisors LLC now owns 38,425 shares of the company's stock worth $1,744,000 after purchasing an additional 225 shares during the period. Kestra Advisory Services LLC lifted its stake in shares of Brookfield Infrastructure by 0.8% in the 4th quarter. Kestra Advisory Services LLC now owns 29,803 shares of the company's stock valued at $1,353,000 after purchasing an additional 239 shares during the period. Chapman Financial Group LLC lifted its stake in shares of Brookfield Infrastructure by 3.0% in the 4th quarter. Chapman Financial Group LLC now owns 8,946 shares of the company's stock valued at $406,000 after purchasing an additional 260 shares during the period. Benjamin Edwards Inc. boosted its holdings in Brookfield Infrastructure by 2.4% during the fourth quarter. Benjamin Edwards Inc. now owns 11,751 shares of the company's stock worth $534,000 after buying an additional 274 shares in the last quarter. Finally, Hamilton Point Investment Advisors LLC grew its position in Brookfield Infrastructure by 0.3% during the first quarter. Hamilton Point Investment Advisors LLC now owns 113,359 shares of the company's stock valued at $4,480,000 after buying an additional 313 shares during the period. Hedge funds and other institutional investors own 70.38% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BIPC. Morgan Stanley reiterated an "underweight" rating and issued a $48.00 price objective on shares of Brookfield Infrastructure in a research report on Tuesday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Brookfield Infrastructure in a report on Wednesday, June 24th. Finally, Wall Street Zen lowered Brookfield Infrastructure from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of "Sell" and an average target price of $48.00.

Brookfield Infrastructure Stock Down 0.2%

Shares of NYSE BIPC opened at $41.53 on Friday. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 30.85 and a beta of 1.32. The company's 50-day simple moving average is $40.32 and its 200-day simple moving average is $42.76. Brookfield Infrastructure Co. has a 52-week low of $34.18 and a 52-week high of $51.72.

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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