Royal Bank of Canada Has $150.75 Million Stock Position in Brookfield Infrastructure Co. $BIPC

Key Points

• Royal Bank of Canada increased its Brookfield Infrastructure stake by 8.2% in the first quarter, owning 3.81 million shares worth approximately $150.75 million, or 3.1% of the company. Institutional investors collectively held 70.38% of BIPC stock.
• Analyst sentiment remains negative: Morgan Stanley maintained an “underweight” rating with a $48 price target, while other firms issued or reiterated “sell” ratings. MarketBeat reports a consensus rating of “Sell” and a $48.00 target price.
• BIPC shares opened at $42.60, compared with a 52-week range of $34.18 to $51.72. In its latest quarterly results, the company reported a loss of $0.56 per share on revenue of $940 million.

Royal Bank of Canada boosted its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 8.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,814,402 shares of the company's stock after acquiring an additional 288,349 shares during the quarter. Royal Bank of Canada owned approximately 3.10% of Brookfield Infrastructure worth $150,746,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIPC. AQR Capital Management LLC bought a new stake in shares of Brookfield Infrastructure during the first quarter valued at approximately $257,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Brookfield Infrastructure by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,451 shares of the company's stock worth $2,586,000 after purchasing an additional 3,125 shares during the last quarter. NewEdge Advisors LLC raised its position in Brookfield Infrastructure by 285.9% in the 1st quarter. NewEdge Advisors LLC now owns 10,250 shares of the company's stock worth $371,000 after purchasing an additional 7,594 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Brookfield Infrastructure by 752.7% during the 1st quarter. Jones Financial Companies Lllp now owns 9,431 shares of the company's stock worth $341,000 after buying an additional 8,325 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Brookfield Infrastructure by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,808 shares of the company's stock worth $37,775,000 after buying an additional 18,648 shares in the last quarter. Institutional investors and hedge funds own 70.38% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on BIPC. Weiss Ratings reissued a "sell (d-)" rating on shares of Brookfield Infrastructure in a research note on Wednesday, June 24th. Morgan Stanley reaffirmed an "underweight" rating and set a $48.00 price target on shares of Brookfield Infrastructure in a research note on Tuesday, July 21st. Finally, Wall Street Zen cut 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, Based on data from MarketBeat.com, the company has an average rating of "Sell" and a consensus target price of $48.00.

Brookfield Infrastructure Price Performance

Shares of NYSE BIPC opened at $42.60 on Friday. Brookfield Infrastructure Co. has a fifty-two week low of $34.18 and a fifty-two week high of $51.72. The firm has a market capitalization of $5.24 billion, a P/E ratio of 30.85 and a beta of 1.32. The company's 50 day simple moving average is $40.39 and its 200 day simple moving average is $42.69.

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

Brookfield Infrastructure 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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