Shares of FTAI Infrastructure Inc. (NASDAQ:FIP – Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $8.24, but opened at $8.50. FTAI Infrastructure shares last traded at $8.33, with a volume of 79,721 shares.
Analysts Set New Price Targets
Separately, BTIG Research assumed coverage on shares of FTAI Infrastructure in a report on Thursday, April 18th. They issued a “buy” rating and a $10.00 price objective for the company.
Read Our Latest Stock Report on FTAI Infrastructure
FTAI Infrastructure Stock Down 1.2 %
The company has a debt-to-equity ratio of 3.95, a quick ratio of 1.23 and a current ratio of 0.69. The stock has a market cap of $827.76 million, a P/E ratio of -4.20 and a beta of 1.29. The stock’s fifty day simple moving average is $6.80 and its 200-day simple moving average is $4.98.
FTAI Infrastructure (NASDAQ:FIP – Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.47) earnings per share (EPS) for the quarter. The business had revenue of $81.44 million during the quarter. FTAI Infrastructure had a negative net margin of 49.44% and a negative return on equity of 37.21%.
FTAI Infrastructure Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 17th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, May 16th. FTAI Infrastructure’s dividend payout ratio is currently -6.19%.
Hedge Funds Weigh In On FTAI Infrastructure
Several hedge funds and other institutional investors have recently made changes to their positions in FIP. Bank of New York Mellon Corp raised its position in shares of FTAI Infrastructure by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 294,067 shares of the company’s stock valued at $947,000 after buying an additional 4,939 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of FTAI Infrastructure in the 3rd quarter valued at approximately $28,000. Principal Financial Group Inc. raised its position in shares of FTAI Infrastructure by 39.5% in the 3rd quarter. Principal Financial Group Inc. now owns 14,653 shares of the company’s stock valued at $47,000 after buying an additional 4,146 shares in the last quarter. Jump Financial LLC acquired a new position in FTAI Infrastructure during the 3rd quarter worth approximately $46,000. Finally, Barclays PLC increased its position in FTAI Infrastructure by 53.2% during the 3rd quarter. Barclays PLC now owns 47,720 shares of the company’s stock worth $153,000 after purchasing an additional 16,564 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.
FTAI Infrastructure Company Profile
FTAI Infrastructure Inc focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.
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