FTAI Infrastructure (NASDAQ:FIP) Shares Up 13.9% – What’s Next?

FTAI Infrastructure Inc. (NASDAQ:FIP)’s stock price was up 13.9% on Wednesday. The stock traded as high as $4.36 and last traded at $4.3750. Approximately 889,747 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 1,191,496 shares. The stock had previously closed at $3.84.

Analyst Upgrades and Downgrades

FIP has been the subject of several analyst reports. JonesTrading reissued a “buy” rating and issued a $8.75 price target on shares of FTAI Infrastructure in a research note on Monday, September 28th. Jefferies Financial Group set a $10.00 price target on shares of FTAI Infrastructure in a research report on Tuesday, September 29th. BTIG Research decreased their price objective on FTAI Infrastructure from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday. UBS Group reiterated a “buy” rating on shares of FTAI Infrastructure in a report on Friday. Finally, Citigroup reiterated a “market outperform” rating on shares of FTAI Infrastructure in a research report on Tuesday, September 29th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.75.

FTAI Infrastructure Trading Up 12.1%

The stock has a market capitalization of $508.76 million, a PE ratio of -0.86 and a beta of 1.82. The firm’s fifty day moving average is $2.89 and its 200-day moving average is $4.43.

FTAI Infrastructure (NASDAQ:FIP) last announced its earnings results on Thursday, November 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The business had revenue of $218.97 million for the quarter, compared to the consensus estimate of $195.03 million.

FTAI Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Monday, November 23rd will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, November 23rd. FTAI Infrastructure’s dividend payout ratio is currently -2.36%.

Institutional Trading of FTAI Infrastructure

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in FTAI Infrastructure by 10.3% during the second quarter. Wellington Management Group LLP now owns 13,490,351 shares of the company’s stock worth $62,595,000 after purchasing an additional 1,259,468 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of FTAI Infrastructure during the second quarter worth $8,591,000. CenterBook Partners LP boosted its position in shares of FTAI Infrastructure by 77.6% during the third quarter. CenterBook Partners LP now owns 3,485,831 shares of the company’s stock worth $9,621,000 after buying an additional 1,522,854 shares during the period. Fifth Third Bancorp purchased a new position in shares of FTAI Infrastructure during the first quarter worth $1,839,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of FTAI Infrastructure by 43.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 433,930 shares of the company’s stock valued at $2,144,000 after buying an additional 131,521 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

About FTAI Infrastructure

FTAI Infrastructure Inc. is an infrastructure company that owns and operates critical transportation and energy assets. Its portfolio is designed to support the movement, storage and processing of essential commodities and industrial products, with a focus on long-lived infrastructure that serves industrial and logistics customers. The company’s businesses include Transtar, an industrial rail network serving manufacturing facilities, ports and other freight customers; Jefferson Terminal, a multimodal port and logistics facility on the U.S. Gulf Coast; and Long Ridge Energy Terminal, an energy infrastructure complex in Ohio that includes natural gas-fired power generation and related facilities.