TD Waterhouse Canada Inc. Sells 43,780 Shares of Brookfield Infrastructure Co. $BIPC

TD Waterhouse Canada Inc. lessened its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,966,411 shares of the company’s stock after selling 43,780 shares during the quarter. TD Waterhouse Canada Inc. owned approximately 1.60% of Brookfield Infrastructure worth $70,300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BIPC. WealthBridge Capital Management LLC bought a new stake in Brookfield Infrastructure during the third quarter valued at about $285,000. Pension & Wealth Management Advisors Inc. grew its stake in Brookfield Infrastructure by 227.1% in the third quarter. Pension & Wealth Management Advisors Inc. now owns 8,785 shares of the company’s stock valued at $313,000 after purchasing an additional 6,099 shares during the last quarter. Oak Grove Capital LLC grew its stake in Brookfield Infrastructure by 5.2% in the third quarter. Oak Grove Capital LLC now owns 753,300 shares of the company’s stock valued at $26,825,000 after purchasing an additional 37,300 shares during the last quarter. Stokes Capital Advisors LLC bought a new position in Brookfield Infrastructure in the third quarter worth about $227,000. Finally, Farther Finance Advisors LLC raised its holdings in Brookfield Infrastructure by 55.0% in the third quarter. Farther Finance Advisors LLC now owns 2,885 shares of the company’s stock worth $103,000 after purchasing an additional 1,024 shares in the last quarter. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on BIPC. Weiss Ratings lowered shares of Brookfield Infrastructure from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. Wall Street Zen raised shares of Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Morgan Stanley reduced their price objective on shares of Brookfield Infrastructure from $50.00 to $48.00 and set an “underweight” rating for the company in a research note on Tuesday. Two analysts have rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has an average rating of “Sell” and an average price target of $48.00.

Brookfield Infrastructure Price Performance

Brookfield Infrastructure stock traded up $0.12 during midday trading on Friday, reaching $37.75. The company’s stock had a trading volume of 1,654,562 shares, compared to its average volume of 1,040,487. The stock’s 50-day simple moving average is $37.47 and its 200-day simple moving average is $39.37. Brookfield Infrastructure Co. has a 52-week low of $34.18 and a 52-week high of $51.72. The stock has a market capitalization of $4.64 billion, a P/E ratio of 30.85 and a beta of 1.33.

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

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.