Oak Grove Capital LLC Buys 37,300 Shares of Brookfield Infrastructure Co. $BIPC

Key Points

• Oak Grove Capital increased its Brookfield Infrastructure stake by 5.2%, acquiring 37,300 shares to own 753,300 shares worth approximately $26.8 million, or 0.61% of the company.
• Institutional ownership remains substantial at 70.38%, with several major investors, including Royal Bank of Canada and TD Waterhouse Canada, also increasing their positions.
• Analyst sentiment is bearish: Brookfield Infrastructure has an average “Sell” rating and a $50 target price, while shares recently traded at $37.41 after reporting a quarterly loss of $0.56 per share.

Oak Grove Capital LLC grew its stake in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 753,300 shares of the company's stock after acquiring an additional 37,300 shares during the quarter. Brookfield Infrastructure accounts for 1.2% of Oak Grove Capital LLC's holdings, making the stock its 17th biggest position. Oak Grove Capital LLC owned 0.61% of Brookfield Infrastructure worth $26,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new position in Brookfield Infrastructure during the 2nd quarter worth approximately $14,071,000. Royal Bank of Canada increased its stake in Brookfield Infrastructure by 8.2% in the first quarter. Royal Bank of Canada now owns 3,814,402 shares of the company's stock valued at $150,746,000 after purchasing an additional 288,349 shares in the last quarter. Credit Industriel ET Commercial acquired a new stake in Brookfield Infrastructure in the first quarter worth $9,234,000. TD Waterhouse Canada Inc. raised its holdings in Brookfield Infrastructure by 8.8% in the second 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 period. Finally, Opal Capital LLC acquired a new stake in Brookfield Infrastructure in the fourth quarter worth $6,402,000. 70.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Brookfield Infrastructure from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Morgan Stanley reaffirmed an "underweight" rating and set a $50.00 price objective on shares of Brookfield Infrastructure in a research note on Wednesday, August 12th. Finally, Weiss Ratings lowered Brookfield Infrastructure from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday. Two investment analysts have rated the stock with a Sell rating. According to data from MarketBeat.com, the company has an average rating of "Sell" and an average target price of $50.00.

Brookfield Infrastructure Stock Performance

NYSE BIPC opened at $37.41 on Friday. The business has a 50 day simple moving average of $37.76 and a 200 day simple moving average of $39.41. Brookfield Infrastructure Co. has a 52-week low of $34.18 and a 52-week high of $51.72. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 30.85 and a beta of 1.33.

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

Brookfield Infrastructure Company Profile

Brookfield Infrastructure Corporation NYSE: BIPC is a global infrastructure company that owns and operates essential assets through its relationship with Brookfield Infrastructure Partners. Its portfolio is organized around utilities, transport, midstream and data infrastructure, with businesses serving industries and customers that depend on reliable infrastructure networks.

The company's assets include electricity transmission and distribution systems, natural gas and other energy infrastructure, transportation facilities such as ports, rail and toll roads, and digital infrastructure including data centers and telecommunications networks.

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