Brookfield Infrastructure (NYSE:BIPC) Trading Down 4.6% – Should You Sell?

Brookfield Infrastructure Co. (NYSE:BIPC) shares were down 4.6% during trading on Tuesday . The stock traded as low as $43.95 and last traded at $44.11. Approximately 555,304 shares traded hands during trading, a decline of 20% from the average daily volume of 691,892 shares. The stock had previously closed at $46.24.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BIPC shares. Wall Street Zen upgraded shares of Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Monday, December 29th. Finally, Morgan Stanley set a $57.00 target price on Brookfield Infrastructure in a research report on Wednesday, January 28th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $57.00.

Brookfield Infrastructure Price Performance

The stock’s 50 day moving average is $47.25 and its two-hundred day moving average is $45.22. The firm has a market capitalization of $5.01 billion, a P/E ratio of 30.85 and a beta of 1.36.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Brookfield Infrastructure in the fourth quarter valued at about $71,014,000. Morgan Stanley boosted its holdings in Brookfield Infrastructure by 33.3% during the fourth quarter. Morgan Stanley now owns 4,165,872 shares of the company’s stock worth $189,131,000 after buying an additional 1,041,474 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Brookfield Infrastructure by 66.4% during the 3rd quarter. HighTower Advisors LLC now owns 2,533,525 shares of the company’s stock worth $104,178,000 after buying an additional 1,011,401 shares during the period. Bank of Montreal Can grew its position in shares of 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 buying an additional 492,354 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Brookfield Infrastructure by 10.3% in the 3rd quarter. Bank of America Corp DE now owns 4,346,550 shares of the company’s stock valued at $178,730,000 after acquiring an additional 406,485 shares during the last quarter. Institutional investors and hedge funds 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.