Brown Advisory Inc. has reduced its investment in Brookfield Infrastructure Co. (NYSE:BIPC) by 1.5% during the second quarter of 2023, according to a recent 13F filing with the Securities and Exchange Commission. The institutional investor now holds 2,938,431 shares of Brookfield Infrastructure after selling 45,848 shares during the quarter. As of the end of the reporting period, Brown Advisory’s holdings were valued at approximately $122.2 million.
Several other institutional investors have also adjusted their positions in Brookfield Infrastructure. BankPlus Wealth Management LLC increased its stake by 2.6% in the second quarter, bringing its total to 10,708 shares valued at $445,000. Similarly, Tranquility Partners LLC raised its holdings by 2.4%, now owning 12,490 shares worth $520,000 after acquiring an additional 290 shares.
Rockefeller Capital Management L.P. also lifted its position by 1.0%, totaling 36,773 shares valued at $1.53 million after buying an additional 350 shares. Marks Group Wealth Management Inc. increased its stake by 3.5%, bringing its total to 10,357 shares worth $431,000. Lastly, Harbor Capital Advisors Inc. grew its holdings by 0.7%, now owning 49,266 shares valued at $2.05 million. Overall, hedge funds and institutional investors together own 70.38% of Brookfield Infrastructure’s stock.
Current Market Performance
As of Friday, Brookfield Infrastructure shares opened at $46.99. The company has a market capitalization of approximately $5.59 billion, a price-to-earnings ratio of 30.85, and a beta of 1.38. Over the past year, the stock has seen a low of $32.08 and a high of $47.71. The stock’s 50-day simple moving average stands at $44.79, while the two-hundred-day simple moving average is $42.01.
Analysts’ Ratings and Future Outlook
Recent evaluations from equity research analysts indicate mixed sentiments regarding Brookfield Infrastructure. Weiss Ratings reaffirmed a “sell (d-)” rating on the shares, while Wall Street Zen upgraded its rating from “sell” to “hold” on September 26, 2023. Morgan Stanley has set a target price of $53.00 on Brookfield Infrastructure, maintaining an “equal weight” rating. Currently, one analyst has rated the stock as a hold, and another has issued a sell rating. According to MarketBeat, the consensus average rating for the company stands at “Reduce” with a target price of $53.00.
Brookfield Infrastructure Corporation, along with its subsidiaries, operates regulated natural gas transmission systems in Brazil. The company is also involved in regulated gas and electricity distribution in the United Kingdom and electricity transmission and distribution, as well as gas distribution, in Australia.
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