Brookfield Infrastructure (NYSE:BIPC) Price Target Raised to $46.00 at Morgan Stanley

Brookfield Infrastructure (NYSE:BIPC) had its target price increased by investment analysts at Morgan Stanley from $45.00 to $46.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 12.36% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Wall Street Zen cut shares of Brookfield Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell” and a consensus target price of $46.00.

Brookfield Infrastructure Stock Up 0.0%

BIPC traded up $0.02 during midday trading on Wednesday, reaching $40.94. 279,965 shares of the company’s stock were exchanged, compared to its average volume of 986,295. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 30.85 and a beta of 1.29. Brookfield Infrastructure has a one year low of $34.18 and a one year high of $51.72. The business has a 50-day simple moving average of $40.99 and a two-hundred day simple moving average of $44.54.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Brookfield Infrastructure by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 6,022,513 shares of the company’s stock worth $273,407,000 after purchasing an additional 31,529 shares during the last quarter. Bank of Montreal Can grew its holdings in Brookfield Infrastructure by 10.3% during the 4th quarter. Bank of Montreal Can now owns 5,289,204 shares of the company’s stock worth $240,120,000 after acquiring an additional 492,354 shares during the period. Bank of America Corp DE grew its holdings in Brookfield Infrastructure by 10.3% during the 3rd quarter. Bank of America Corp DE now owns 4,346,550 shares of the company’s stock worth $178,730,000 after acquiring an additional 406,485 shares during the period. Morgan Stanley grew its holdings in Brookfield Infrastructure by 33.3% during the 4th quarter. Morgan Stanley now owns 4,165,872 shares of the company’s stock worth $189,131,000 after acquiring an additional 1,041,474 shares during the period. Finally, Royal Bank of Canada grew its holdings in 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 acquiring an additional 288,349 shares during the period. Institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Company 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.