Macquarie Infrastructure Co. (MIC) Given Consensus Rating of “Buy” by Analysts
Macquarie Infrastructure Co. (NYSE:MIC) has received an average recommendation of “Buy” from the eight analysts that are covering the stock. Eight equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $96.33.
A number of equities analysts have recently issued reports on MIC shares. Zacks Investment Research raised shares of Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Thursday, October 6th. Royal Bank Of Canada increased their price objective 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. Wells Fargo & Co. reissued an “outperform” rating on shares of Macquarie Infrastructure in a research report on Friday, November 18th. RBC Capital Markets increased their price objective 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, TheStreet raised shares of Macquarie Infrastructure from a “hold” rating to a “buy” rating in a research report on Tuesday, August 2nd.
In other Macquarie Infrastructure news, Director Infrastructure Manag Macquarie sold 2,870,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 4,356,936 shares in the company, valued at approximately $355,003,145.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. 7.50% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Cohen & Steers Inc. raised its stake in 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 period. Capital World Investors raised its stake 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 during the period. Scopus Asset Management L.P. purchased a new stake in Macquarie Infrastructure during the third quarter valued at approximately $36,835,000. RWC Asset Management LLP purchased a new stake in Macquarie Infrastructure during the second quarter valued at approximately $17,414,000. Finally, Dimensional Fund Advisors LP raised its stake in Macquarie Infrastructure by 104.6% in the second quarter. Dimensional Fund Advisors LP now owns 455,090 shares of the company’s stock valued at $33,697,000 after buying an additional 232,675 shares during the period. Hedge funds and other institutional investors own 82.87% of the company’s stock.
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Macquarie Infrastructure (NYSE:MIC) opened at 82.53 on Monday. The firm has a market cap of $6.75 billion, a P/E ratio of 57.15 and a beta of 0.94. Macquarie Infrastructure has a 12 month low of $51.83 and a 12 month high of $85.45. The firm’s 50-day moving average price is $81.79 and its 200-day moving average price is $77.97.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Thursday, November 10th were given a $1.29 dividend. This is a boost from Macquarie Infrastructure’s previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, November 8th. This represents a $5.16 annualized dividend and a yield of 6.25%. Macquarie Infrastructure’s dividend payout ratio (DPR) is presently 351.02%.
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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