FTAI Infrastructure (NASDAQ:FIP) Shares Up 13.9% – Time to Buy?

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JonesTrading reaffirmed a “buy” rating and issued a $8.75 target price on shares of FTAI Infrastructure in a research report on Monday, September 28th. UBS Group reissued a “buy” rating on shares of FTAI Infrastructure in a research report on Friday. Wall Street Zen lowered shares of FTAI Infrastructure from a “sell” rating to a “strong sell” rating in a research note on Monday, July 20th. Citigroup reissued a “market outperform” rating on shares of FTAI Infrastructure in a research note on Tuesday, September 29th. Finally, BTIG Research dropped their price objective on shares of FTAI Infrastructure from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.75.

FTAI Infrastructure Trading Up 12.1%

The company has a fifty day simple moving average of $2.89 and a two-hundred day simple moving average of $4.43. The company has a market cap of $508.76 million, a PE ratio of -0.86 and a beta of 1.82.

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

FTAI Infrastructure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 23rd will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, November 23rd. FTAI Infrastructure’s dividend payout ratio is presently -2.36%.

Institutional Trading of FTAI Infrastructure

Several hedge funds have recently added to or reduced their stakes in FIP. Teachers Retirement System of The State of Kentucky grew its holdings in FTAI Infrastructure by 12.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 535,996 shares of the company’s stock worth $1,479,000 after acquiring an additional 58,979 shares in the last quarter. CenterBook Partners LP increased its position in shares of FTAI Infrastructure by 77.6% in the 3rd quarter. CenterBook Partners LP now owns 3,485,831 shares of the company’s stock valued at $9,621,000 after purchasing an additional 1,522,854 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of FTAI Infrastructure in the 2nd quarter valued at $65,000. Connective Capital Management LLC acquired a new stake in shares of FTAI Infrastructure in the 2nd quarter valued at $167,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of FTAI Infrastructure during the 2nd quarter worth $75,000. 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.