FTAI Infrastructure (NASDAQ:FIP) Reaches New 12-Month High at $9.93

FTAI Infrastructure Inc. (NASDAQ:FIP) shares reached a new 52-week high on Monday . The stock traded as high as $9.93 and last traded at $9.89, with a volume of 308213 shares. The stock had previously closed at $9.67.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JMP Securities assumed coverage on shares of FTAI Infrastructure in a research note on Wednesday, June 26th. They issued a “market outperform” rating and a $11.00 price objective on the stock. BTIG Research lifted their target price on shares of FTAI Infrastructure from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th.

FTAI Infrastructure Stock Performance

The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $1.01 billion, a PE ratio of -5.10 and a beta of 1.32. The business’s fifty day simple moving average is $8.58 and its 200-day simple moving average is $6.53.

FTAI Infrastructure (NASDAQ:FIP) last released its earnings results on Tuesday, May 7th. The company reported ($0.54) earnings per share for the quarter. The business had revenue of $82.54 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 business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Friday, May 17th were paid a $0.03 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.12 annualized dividend and a yield of 1.21%. FTAI Infrastructure’s dividend payout ratio (DPR) is presently -6.19%.

Institutional Investors Weigh In On FTAI Infrastructure

A number of institutional investors and hedge funds have recently modified their holdings of FIP. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of FTAI Infrastructure in the first quarter valued at approximately $848,000. Inscription Capital LLC acquired a new stake in shares of FTAI Infrastructure in the 1st quarter worth $1,103,000. Orchard Capital Management LLC grew its holdings in shares of FTAI Infrastructure by 7.1% during the 4th 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 period. Vanguard Group Inc. grew its holdings in shares of FTAI Infrastructure by 1.1% during the 3rd 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 period. Finally, Jump Financial LLC grew its holdings in shares of FTAI Infrastructure by 430.8% during the 4th quarter. Jump Financial LLC now owns 76,153 shares of the company’s stock worth $296,000 after purchasing an additional 61,805 shares during the period. Institutional investors and hedge funds 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.