Squarepoint Ops LLC Decreases Position in Brookfield Infrastructure Co. $BIPC

Key Points

• Squarepoint Ops LLC cut its Brookfield Infrastructure stake by 83.1% in the second quarter, selling 86,040 shares and retaining 17,443 shares valued at approximately $672,000. Institutional investors and hedge funds collectively own 70.38% of BIPC.
• BIPC shares opened at $36.32, near the lower end of their 52-week range of $34.18 to $51.72. The company reported quarterly revenue of $940 million and a loss of $0.56 per share.
• Analyst sentiment remains cautious: BIPC has an average “Sell” rating from MarketBeat-tracked analysts, with Morgan Stanley maintaining an “underweight” rating and a $50 price target.

Squarepoint Ops LLC decreased its holdings in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 83.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,443 shares of the company's stock after selling 86,040 shares during the quarter. Squarepoint Ops LLC's holdings in Brookfield Infrastructure were worth $672,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BIPC. Caitong International Asset Management Co. Ltd raised its stake in Brookfield Infrastructure by 1,125.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 576 shares of the company's stock valued at $26,000 after buying an additional 529 shares during the last quarter. Compass Financial Management LLC acquired a new position in shares of Brookfield Infrastructure during the second quarter valued at about $27,000. Motiv8 Investments LLC acquired a new position in shares of Brookfield Infrastructure during the fourth quarter valued at about $34,000. CoreCap Advisors LLC purchased a new position in shares of Brookfield Infrastructure in the 2nd quarter valued at approximately $58,000. Finally, Nykredit A S purchased a new position in shares of Brookfield Infrastructure in the 2nd quarter valued at approximately $62,000. 70.38% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Stock Up 0.5%

Shares of BIPC opened at $36.32 on Friday. Brookfield Infrastructure Co. has a 52 week low of $34.18 and a 52 week high of $51.72. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 30.85 and a beta of 1.31. The stock's 50-day moving average price is $39.27 and its 200-day moving average price is $40.43.

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 (EPS) for the quarter. The company had revenue of $940.00 million for the quarter.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Brookfield Infrastructure in a research report on Wednesday, June 24th. Wall Street Zen raised shares of Brookfield Infrastructure from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Morgan Stanley reiterated an "underweight" rating and set a $50.00 price objective on shares of Brookfield Infrastructure in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Sell" and an average target price of $50.00.

About Brookfield Infrastructure

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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