FTAI Infrastructure (NASDAQ:FIP) Shares Up 5.8% – Here’s Why

FTAI Infrastructure Inc. (NASDAQ:FIP) was up 5.8% on Wednesday . The stock traded as high as $8.22 and last traded at $8.04. Approximately 263,390 shares traded hands during trading, a decline of 58% from the average daily volume of 621,169 shares. The stock had previously closed at $7.60.

FTAI Infrastructure Trading Up 8.3 %

The firm has a 50 day simple moving average of $8.16 and a 200 day simple moving average of $8.86. The firm has a market cap of $936.16 million, a P/E ratio of -4.16 and a beta of 1.34. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.42 and a current ratio of 1.42.

FTAI Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.12 dividend on an annualized basis and a yield of 1.46%. FTAI Infrastructure’s dividend payout ratio is currently -6.06%.

Hedge Funds Weigh In On FTAI Infrastructure

A number of hedge funds and other institutional investors have recently modified their holdings of FIP. FMR LLC increased its holdings in FTAI Infrastructure by 5,651.2% during the 3rd quarter. FMR LLC now owns 348,349 shares of the company’s stock valued at $3,261,000 after purchasing an additional 342,292 shares during the period. Barclays PLC raised its stake in FTAI Infrastructure by 283.8% during the third quarter. Barclays PLC now owns 159,387 shares of the company’s stock valued at $1,492,000 after buying an additional 117,863 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in FTAI Infrastructure by 198.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 848,363 shares of the company’s stock worth $7,941,000 after acquiring an additional 564,566 shares in the last quarter. First Eagle Investment Management LLC bought a new position in shares of FTAI Infrastructure during the second quarter valued at $2,766,000. Finally, Highland Peak Capital LLC raised its position in shares of FTAI Infrastructure by 194.3% in the 3rd quarter. Highland Peak Capital LLC now owns 1,755,349 shares of the company’s stock worth $16,430,000 after purchasing an additional 1,158,816 shares during the last quarter. 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.