Brookfield Infrastructure (NYSE:BIPC) Stock Price Down 7.7% – Here’s What Happened

Shares of Brookfield Infrastructure Co. (NYSE:BIPC) fell 7.7% during mid-day trading on Wednesday . The company traded as low as $36.72 and last traded at $36.72. 243,100 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 859,740 shares. The stock had previously closed at $39.78.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BIPC shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Friday, March 27th. Wall Street Zen downgraded Brookfield Infrastructure from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $45.00 price objective (down from $57.00) on shares of Brookfield Infrastructure in a research note on Monday, March 23rd. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell” and a consensus target price of $45.00.

Brookfield Infrastructure Stock Up 4.3%

The firm has a market cap of $4.55 billion, a PE ratio of 30.85 and a beta of 1.40. The firm’s 50 day moving average is $42.93 and its 200-day moving average is $44.96.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC increased its stake in Brookfield Infrastructure by 2.0% in the first quarter. Sequoia Financial Advisors LLC now owns 78,404 shares of the company’s stock valued at $3,099,000 after purchasing an additional 1,535 shares during the last quarter. Corrado Advisors LLC grew its holdings in Brookfield Infrastructure by 2.3% in the 1st quarter. Corrado Advisors LLC now owns 39,307 shares of the company’s stock valued at $1,553,000 after buying an additional 882 shares during the period. Hsbc Holdings PLC grew its holdings in Brookfield Infrastructure by 11.7% in the 1st quarter. Hsbc Holdings PLC now owns 21,370 shares of the company’s stock valued at $836,000 after buying an additional 2,241 shares during the period. Kestra Advisory Services LLC increased its stake in shares of Brookfield Infrastructure by 23.3% during the 1st quarter. Kestra Advisory Services LLC now owns 36,759 shares of the company’s stock valued at $1,453,000 after acquiring an additional 6,956 shares during the last quarter. Finally, Credit Industriel ET Commercial acquired a new position in shares of Brookfield Infrastructure during the 1st quarter valued at about $9,234,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

About Brookfield Infrastructure

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.