FTAI Infrastructure (NASDAQ:FIP) Stock Price Up 5.9%

FTAI Infrastructure Inc. (NASDAQ:FIP) rose 5.9% during trading on Friday . The stock traded as high as $9.04 and last traded at $9.02. Approximately 246,927 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 876,542 shares. The stock had previously closed at $8.52.

Analyst Ratings Changes

Separately, BTIG Research assumed coverage on FTAI Infrastructure in a research note on Thursday, April 18th. They set a “buy” rating and a $10.00 target price for the company.

FTAI Infrastructure Stock Up 5.6 %

The business’s fifty day moving average price is $7.02 and its 200 day moving average price is $5.12. The firm has a market capitalization of $915.21 million, a price-to-earnings ratio of -4.63 and a beta of 1.29. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.95.

FTAI Infrastructure (NASDAQ:FIP) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.47) earnings per share (EPS) for the quarter. The company had revenue of $81.44 million for the quarter. FTAI Infrastructure had a negative return on equity of 37.21% and a negative net margin of 49.44%.

FTAI Infrastructure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.33%. FTAI Infrastructure’s dividend payout ratio (DPR) is -6.19%.

Hedge Funds Weigh In On FTAI Infrastructure

A number of large investors have recently made changes to their positions in FIP. ProShare Advisors LLC raised its position in FTAI Infrastructure by 8.5% during the first quarter. ProShare Advisors LLC now owns 17,783 shares of the company’s stock worth $112,000 after acquiring an additional 1,400 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of FTAI Infrastructure by 23.2% during the 4th quarter. Victory Capital Management Inc. now owns 13,200 shares of the company’s stock worth $51,000 after purchasing an additional 2,490 shares during the last quarter. Principal Financial Group Inc. lifted its stake in FTAI Infrastructure by 39.5% in the 3rd quarter. Principal Financial Group Inc. now owns 14,653 shares of the company’s stock valued at $47,000 after buying an additional 4,146 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in FTAI Infrastructure by 38.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 17,288 shares of the company’s stock valued at $67,000 after buying an additional 4,787 shares during the last quarter. Finally, Bank of New York Mellon Corp raised 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. Hedge funds and other institutional investors own 87.43% of the company’s stock.

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.