FTAI Infrastructure (NASDAQ:FIP) Price Target Raised to $12.00

FTAI Infrastructure (NASDAQ:FIP) had its target price hoisted by JMP Securities from $11.00 to $12.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a market outperform rating on the stock.

Separately, BTIG Research upped their price target on FTAI Infrastructure from $10.00 to $11.00 and gave the stock a buy rating in a report on Thursday, June 6th.

FTAI Infrastructure Stock Performance

NASDAQ FIP opened at $9.79 on Tuesday. The company has a market cap of $995.55 million, a price-to-earnings ratio of -5.05 and a beta of 1.32. FTAI Infrastructure has a 52 week low of $2.84 and a 52 week high of $10.43. The business has a 50 day moving average price of $8.71 and a 200-day moving average price of $6.67. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.95.

FTAI Infrastructure (NASDAQ:FIP) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter. FTAI Infrastructure had a negative return on equity of 37.21% and a negative net margin of 49.44%. The company had revenue of $82.54 million for the quarter.

FTAI Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 17th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.12 annualized dividend and a yield of 1.23%. FTAI Infrastructure’s dividend payout ratio (DPR) is currently -6.19%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in FTAI Infrastructure by 1.1% in the third quarter. Vanguard Group Inc. now owns 5,299,036 shares of the company’s stock worth $17,063,000 after purchasing an additional 57,133 shares during the last quarter. Luxor Capital Group LP boosted its position in FTAI Infrastructure by 49.0% in the fourth quarter. Luxor Capital Group LP now owns 4,269,813 shares of the company’s stock worth $16,610,000 after purchasing an additional 1,403,628 shares during the last quarter. Orchard Capital Management LLC boosted its position in FTAI Infrastructure by 7.1% in the fourth quarter. Orchard Capital Management LLC now owns 2,471,786 shares of the company’s stock worth $9,615,000 after purchasing an additional 164,023 shares during the last quarter. Pingora Partners LLC purchased a new position in FTAI Infrastructure in the fourth quarter worth $6,102,000. Finally, Bank of New York Mellon Corp boosted its position in FTAI Infrastructure by 8.9% in the second quarter. Bank of New York Mellon Corp now owns 794,868 shares of the company’s stock worth $6,860,000 after purchasing an additional 65,218 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

About FTAI Infrastructure

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.