Hsbc Holdings PLC Decreases Position in Brookfield Infrastructure Co. $BIPC

Key Points

• Hsbc Holdings PLC slashed its stake in Brookfield Infrastructure by 94.1% in the fourth quarter, leaving it with 19,129 shares worth about $867,000 after selling more than 303,000 shares.
• Other institutional investors made only modest changes, and hedge funds and other institutions still own 70.38% of Brookfield Infrastructure’s stock.
• Analysts remain cautious on BIPC, with an average Sell rating and a consensus price target of $46.00; the shares recently traded at $39.76.

Hsbc Holdings PLC decreased its holdings in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 94.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,129 shares of the company's stock after selling 303,164 shares during the period. Hsbc Holdings PLC's holdings in Brookfield Infrastructure were worth $867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of BIPC. Corrado Advisors LLC boosted its holdings in Brookfield Infrastructure by 0.6% in the fourth quarter. Corrado Advisors LLC now owns 38,425 shares of the company's stock valued at $1,744,000 after purchasing an additional 225 shares during the period. Kestra Advisory Services LLC raised its position in 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 in the last quarter. Chapman Financial Group LLC raised its position in 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 in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Brookfield Infrastructure by 2.4% in the 4th quarter. Benjamin Edwards Inc. now owns 11,751 shares of the company's stock valued at $534,000 after buying an additional 274 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Brookfield Infrastructure by 8.6% in the 3rd quarter. US Bancorp DE now owns 4,136 shares of the company's stock valued at $170,000 after buying an additional 326 shares during the period. Hedge funds and other institutional investors own 70.38% of the company's stock.

Brookfield Infrastructure Price Performance

Shares of NYSE BIPC opened at $39.76 on Wednesday. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 30.85 and a beta of 1.32. The business has a 50-day moving average of $40.15 and a two-hundred day moving average of $43.01. Brookfield Infrastructure Co. has a 1 year low of $34.18 and a 1 year high of $51.72.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BIPC shares. Morgan Stanley boosted their price objective on Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an "underweight" rating in a research report on Wednesday, May 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Brookfield Infrastructure in a research note on Wednesday, June 24th. Finally, Wall Street Zen cut shares of Brookfield Infrastructure from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of "Sell" and a consensus price target of $46.00.

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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