HighTower Advisors LLC Grows Holdings in Brookfield Infrastructure Co. $BIPC

HighTower Advisors LLC raised its holdings in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 2.3% in the 4th quarter, Holdings Channel reports. The firm owned 2,592,739 shares of the company’s stock after purchasing an additional 59,214 shares during the quarter. HighTower Advisors LLC’s holdings in Brookfield Infrastructure were worth $117,710,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BIPC. Envestnet Asset Management Inc. lifted its holdings in Brookfield Infrastructure by 3.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 988,792 shares of the company’s stock valued at $40,659,000 after buying an additional 30,696 shares in the last quarter. Barnett & Company Inc. grew its stake in Brookfield Infrastructure by 54.7% in the 3rd quarter. Barnett & Company Inc. now owns 42,550 shares of the company’s stock worth $1,750,000 after acquiring an additional 15,050 shares in the last quarter. Citigroup Inc. increased its position in shares of Brookfield Infrastructure by 22.4% during the third quarter. Citigroup Inc. now owns 467,633 shares of the company’s stock worth $19,211,000 after acquiring an additional 85,511 shares during the period. Annex Advisory Services LLC purchased a new position in shares of Brookfield Infrastructure during the fourth quarter worth approximately $2,843,000. Finally, Vanguard Group Inc. raised its stake in shares of Brookfield Infrastructure by 2.1% during the third quarter. Vanguard Group Inc. now owns 5,990,984 shares of the company’s stock valued at $246,108,000 after acquiring an additional 124,696 shares in the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BIPC has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Friday, March 27th. Morgan Stanley reaffirmed an “underweight” rating and set a $45.00 target price (down from $57.00) on shares of Brookfield Infrastructure in a research report on Monday, March 23rd. Finally, Wall Street Zen cut Brookfield Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Two 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 Performance

Shares of BIPC opened at $40.90 on Wednesday. The stock has a market capitalization of $5.03 billion, a PE ratio of 30.85 and a beta of 1.29. The company has a 50 day moving average price of $40.99 and a 200-day moving average price of $44.54. Brookfield Infrastructure Co. has a fifty-two week low of $34.18 and a fifty-two week high of $51.72.

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.