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

Oak Grove Capital LLC lifted its position in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 5.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 753,300 shares of the company’s stock after purchasing an additional 37,300 shares during the quarter. Brookfield Infrastructure accounts for about 1.2% of Oak Grove Capital LLC’s investment portfolio, making the stock its 17th biggest holding. Oak Grove Capital LLC’s holdings in Brookfield Infrastructure were worth $26,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of BIPC. Bank of New York Mellon Corp acquired a new position in Brookfield Infrastructure during the 2nd quarter worth approximately $14,071,000. Quantinno Capital Management LP grew its stake in shares of Brookfield Infrastructure by 243.0% during the 1st quarter. Quantinno Capital Management LP now owns 64,194 shares of the company’s stock worth $2,536,000 after acquiring an additional 45,476 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Brookfield Infrastructure in the second quarter valued at approximately $1,317,000. Groupe la Francaise acquired a new stake in shares of Brookfield Infrastructure in the first quarter valued at approximately $2,318,000. Finally, TD Waterhouse Canada Inc. lifted its position in shares of 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 in the last quarter. 70.38% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Price Performance

Shares of BIPC opened at $37.41 on Friday. The firm has a 50-day moving average of $37.76 and a 200-day moving average of $39.41. Brookfield Infrastructure Co. has a one year low of $34.18 and a one year high of $51.72. The company has a market cap of $4.60 billion, a PE ratio of 30.85 and a beta of 1.33.

Brookfield Infrastructure (NYSE:BIPC) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.56) earnings per share for the quarter. The firm had revenue of $940.00 million for the quarter.

Analyst Upgrades and Downgrades

BIPC has been the subject of several recent research reports. Wall Street Zen upgraded shares of Brookfield Infrastructure from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings cut shares of Brookfield Infrastructure from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. Finally, Morgan Stanley restated an “underweight” rating and set a $50.00 price objective on shares of Brookfield Infrastructure in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Sell rating. Based on data from MarketBeat.com, Brookfield Infrastructure currently has a consensus rating of “Sell” and a consensus price target of $50.00.

Brookfield Infrastructure 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.