Brookfield Infrastructure (NYSE:BIPC) Price Target Cut to $48.00 by Analysts at Morgan Stanley

Brookfield Infrastructure (NYSE:BIPC) had its target price reduced by analysts at Morgan Stanley from $50.00 to $48.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 31.18% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Weiss Ratings lowered Brookfield Infrastructure from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. Wall Street Zen raised shares of Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. 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 $48.00.

Brookfield Infrastructure Price Performance

BIPC traded down $0.39 on Tuesday, reaching $36.59. 332,226 shares of the stock were exchanged, compared to its average volume of 1,030,704. The company’s 50-day moving average price is $37.69 and its 200 day moving average price is $39.40. The firm has a market capitalization of $4.50 billion, a PE ratio of 30.85 and a beta of 1.33. Brookfield Infrastructure has a fifty-two week low of $34.18 and a fifty-two week high of $51.72.

Brookfield Infrastructure (NYSE:BIPC) last announced 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 during the quarter.

Hedge Funds Weigh In On Brookfield Infrastructure

A number of institutional investors have recently modified their holdings of BIPC. Oak Grove Capital LLC lifted its holdings in shares of Brookfield Infrastructure by 5.2% in the 3rd quarter. Oak Grove Capital LLC now owns 753,300 shares of the company’s stock valued at $26,825,000 after buying an additional 37,300 shares during the period. Stokes Capital Advisors LLC acquired a new stake in Brookfield Infrastructure during the third quarter worth about $227,000. Farther Finance Advisors LLC grew its holdings in Brookfield Infrastructure by 55.0% during the third quarter. Farther Finance Advisors LLC now owns 2,885 shares of the company’s stock worth $103,000 after acquiring an additional 1,024 shares during the period. Versant Capital Management Inc grew its holdings in Brookfield Infrastructure by 367.8% during the third quarter. Versant Capital Management Inc now owns 697 shares of the company’s stock worth $25,000 after acquiring an additional 548 shares during the period. Finally, Van Hulzen Asset Management LLC purchased a new position in Brookfield Infrastructure during the second quarter valued at approximately $312,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Company 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.