FTAI Infrastructure (NASDAQ:FIP) Trading Up 3.7%

FTAI Infrastructure Inc. (NASDAQ:FIP)’s stock price shot up 3.7% during trading on Thursday . The company traded as high as $6.90 and last traded at $6.79. 98,287 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 691,401 shares. The stock had previously closed at $6.55.

Wall Street Analysts Forecast Growth

Separately, BTIG Research initiated coverage on shares of FTAI Infrastructure in a research note on Thursday. They set a “buy” rating and a $10.00 target price for the company.

FTAI Infrastructure Stock Up 2.7 %

The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 3.25. The company has a market capitalization of $684.37 million, a PE ratio of -3.64 and a beta of 1.51. The firm has a 50 day simple moving average of $5.51 and a two-hundred day simple moving average of $4.30.

FTAI Infrastructure (NASDAQ:FIP) last released its earnings results on Thursday, February 29th. The company reported ($0.47) earnings per share (EPS) for the quarter. The business had revenue of $81.44 million for the quarter. FTAI Infrastructure had a negative return on equity of 32.27% and a negative net margin of 48.71%.

FTAI Infrastructure Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Wednesday, March 27th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Tuesday, March 26th. FTAI Infrastructure’s dividend payout ratio is currently -6.67%.

Institutional Trading of FTAI Infrastructure

A number of institutional investors have recently bought and sold shares of FIP. UBS Group AG acquired a new stake in FTAI Infrastructure during the fourth quarter worth approximately $240,000. Raymond James & Associates purchased a new stake in shares of FTAI Infrastructure during the 4th quarter worth about $265,000. Raymond James Financial Services Advisors Inc. acquired a new stake in FTAI Infrastructure during the 4th quarter worth approximately $108,000. HighTower Advisors LLC purchased a new position in FTAI Infrastructure in the fourth quarter valued at approximately $106,000. Finally, Victory Capital Management Inc. acquired a new position in FTAI Infrastructure during the fourth quarter valued at approximately $37,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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.