FTAI Infrastructure (NASDAQ:FIP) Reaches New 12-Month High at $7.82

Shares of FTAI Infrastructure Inc. (NASDAQ:FIP) hit a new 52-week high on Thursday . The stock traded as high as $7.82 and last traded at $7.74, with a volume of 191301 shares trading hands. The stock had previously closed at $7.51.

Wall Street Analyst Weigh In

Separately, BTIG Research started coverage on FTAI Infrastructure in a report on Thursday, April 18th. They issued a “buy” rating and a $10.00 target price on the stock.

FTAI Infrastructure Stock Up 2.7 %

The business has a 50 day moving average price of $6.31 and a 200 day moving average price of $4.72. The firm has a market capitalization of $784.06 million, a P/E ratio of -4.17 and a beta of 1.29. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.23 and a quick ratio of 1.23.

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

FTAI Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 17th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.12 annualized dividend and a yield of 1.56%. FTAI Infrastructure’s dividend payout ratio (DPR) is presently -6.67%.

Institutional Investors Weigh In On FTAI Infrastructure

Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of FTAI Infrastructure in the 3rd quarter valued at $139,000. Bank of New York Mellon Corp lifted its holdings in shares of FTAI Infrastructure by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 294,067 shares of the company’s stock worth $947,000 after acquiring an additional 4,939 shares during the last quarter. Brown Advisory Inc. acquired a new stake in FTAI Infrastructure in the third quarter valued at approximately $68,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of FTAI Infrastructure during the third quarter valued at about $28,000. Finally, Principal Financial Group Inc. grew its holdings in shares of FTAI Infrastructure by 39.5% during the third quarter. Principal Financial Group Inc. now owns 14,653 shares of the company’s stock worth $47,000 after purchasing an additional 4,146 shares during 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.