Brookfield Infrastructure (NYSE:BIPC) Share Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• Brookfield Infrastructure shares rose 1.8%, reaching $37.75 and closing at $37.59 after moving above their 50-day average of $37.05. The stock remains below its 200-day average of $41.10.
• Analyst sentiment remains cautious: the stock has an overall “Sell” rating, with two sell recommendations and an average price target of $48.00; Morgan Stanley recently cut its target to $48 and maintained an underweight rating.
• Institutional investors own 70.38% of the company, with several major holders increasing their positions. Brookfield Infrastructure provides exposure to global utilities, transport, midstream and data infrastructure businesses.

Brookfield Infrastructure Co. (NYSE:BIPC - Get Free Report) shares passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $37.05 and traded as high as $37.75. Brookfield Infrastructure shares last traded at $37.59, with a volume of 1,079,820 shares traded.

Analyst Ratings Changes

Several brokerages have recently commented on BIPC. Weiss Ratings lowered Brookfield Infrastructure from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, October 8th. 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 dropped their price objective on shares of Brookfield Infrastructure from $50.00 to $48.00 and set an "underweight" rating on the stock in a report on Tuesday, October 13th. Two research analysts have rated the stock with a Sell rating. According to data from MarketBeat, the stock presently has an average rating of "Sell" and an average price target of $48.00.

Brookfield Infrastructure Stock Up 1.8%

The stock has a 50-day simple moving average of $37.05 and a 200 day simple moving average of $41.10. The company has a market cap of $4.62 billion, a PE ratio of 30.85 and a beta of 1.33.

Brookfield Infrastructure (NYSE:BIPC - Get Free Report) last announced its 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.

Institutional Trading of Brookfield Infrastructure

A number of large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new stake in Brookfield Infrastructure during the 2nd quarter valued at approximately $14,071,000. Royal Bank of Canada boosted its position in shares of Brookfield Infrastructure by 8.2% during the 1st quarter. Royal Bank of Canada now owns 3,814,402 shares of the company's stock worth $150,746,000 after purchasing an additional 288,349 shares in the last quarter. Credit Industriel ET Commercial purchased a new position in Brookfield Infrastructure in the first quarter valued at about $9,234,000. Evergreen Capital Management LLC increased its stake in Brookfield Infrastructure by 335.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 219,822 shares of the company's stock valued at $7,828,000 after purchasing an additional 169,324 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in shares of Brookfield Infrastructure by 8.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,010,191 shares of the company's stock worth $76,964,000 after buying an additional 162,994 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company's stock.

Brookfield Infrastructure Company Profile

Brookfield Infrastructure Corporation NYSE: BIPC is an infrastructure company created by Brookfield Infrastructure to provide investors with a corporate ownership structure for an interest in its global infrastructure operations. BIPC has economic exposure to the same underlying business as Brookfield Infrastructure Partners, while its shares are structured as a corporation rather than a partnership.

The company's operations span several infrastructure sectors, including utilities, transport, midstream infrastructure and data infrastructure.

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