Macquarie Infrastructure’s (MIC) Outperform Rating Reaffirmed at Wells Fargo & Co.
Macquarie Infrastructure Co. (NYSE:MIC)‘s stock had its “outperform” rating restated by Wells Fargo & Co. in a report released on Friday.
A number of other equities analysts have also recently weighed in on the stock. TheStreet raised shares of Macquarie Infrastructure from a “hold” rating to a “buy” rating in a research report on Tuesday, August 2nd. Zacks Investment Research raised shares of Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Thursday, October 6th. RBC Capital Markets lifted their price target on shares of Macquarie Infrastructure from $91.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 2nd. Finally, Royal Bank Of Canada lifted their price target on shares of Macquarie Infrastructure from $91.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 2nd. Eight research analysts have rated the stock with a buy rating, Macquarie Infrastructure has a consensus rating of “Buy” and a consensus price target of $94.75.
Shares of Macquarie Infrastructure (NYSE:MIC) opened at 81.60 on Friday. Macquarie Infrastructure has a one year low of $51.83 and a one year high of $85.45. The company has a 50-day moving average of $81.94 and a 200-day moving average of $77.48. The company has a market capitalization of $6.68 billion, a PE ratio of 56.51 and a beta of 0.94.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Thursday, November 10th were paid a $1.29 dividend. This is a positive change from Macquarie Infrastructure’s previous quarterly dividend of $1.25. This represents a $5.16 annualized dividend and a yield of 6.32%. The ex-dividend date was Tuesday, November 8th. Macquarie Infrastructure’s payout ratio is presently 351.02%.
In other Macquarie Infrastructure news, Director Infrastructure Manag Macquarie sold 2,870,000 shares of Macquarie Infrastructure stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $81.48, for a total value of $233,847,600.00. Following the sale, the director now directly owns 4,356,936 shares in the company, valued at approximately $355,003,145.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.50% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Cohen & Steers Inc. raised its stake in shares of Macquarie Infrastructure by 19,146.2% in the second quarter. Cohen & Steers Inc. now owns 70,400,000 shares of the company’s stock valued at $70,224,000 after buying an additional 70,034,213 shares during the last quarter. Vanguard Group Inc. raised its position in Macquarie Infrastructure by 2.7% in the second quarter. Vanguard Group Inc. now owns 5,100,803 shares of the company’s stock valued at $377,715,000 after buying an additional 133,832 shares in the last quarter. Capital World Investors raised its position in Macquarie Infrastructure by 27.3% in the third quarter. Capital World Investors now owns 3,170,000 shares of the company’s stock valued at $263,871,000 after buying an additional 680,000 shares in the last quarter. Harvest Fund Advisors LLC raised its position in Macquarie Infrastructure by 3.3% in the second quarter. Harvest Fund Advisors LLC now owns 3,017,077 shares of the company’s stock valued at $223,415,000 after buying an additional 97,441 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Macquarie Infrastructure by 2.2% in the third quarter. Principal Financial Group Inc. now owns 2,454,919 shares of the company’s stock valued at $204,347,000 after buying an additional 53,321 shares in the last quarter. Hedge funds and other institutional investors own 83.37% of the company’s stock.
About Macquarie Infrastructure
Macquarie Infrastructure Corporation owns, operates and invests in a diversified group of infrastructure businesses providing basic services to customers in the United States. Its businesses consist of a bulk liquid terminals business, International-Matex Tank Terminals, an airport services business, Atlantic Aviation, a gas processing and distribution business, Hawaii Gas, and entities comprising a Contracted Power and Energy segment.
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