Macquarie Infrastructure Company (MIC) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Macquarie Infrastructure Company (NYSE:MIC) have been given a consensus rating of “Buy” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $88.00.
MIC has been the topic of a number of recent research reports. Zacks Investment Research upgraded Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Tuesday, July 18th. Barclays PLC lowered Macquarie Infrastructure from an “overweight” rating to a “hold” rating and dropped their target price for the company from $89.00 to $83.00 in a research report on Tuesday, July 18th. Finally, BidaskClub upgraded Macquarie Infrastructure from a “strong sell” rating to a “sell” rating in a research report on Friday, August 4th.
Macquarie Infrastructure (NYSE MIC) traded down $2.59 on Friday, hitting $66.18. 760,700 shares of the stock traded hands, compared to its average volume of 771,033. Macquarie Infrastructure has a 12-month low of $65.57 and a 12-month high of $83.66. The company has a current ratio of 1.07, a quick ratio of 0.93 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $5,596.45, a P/E ratio of 31.07 and a beta of 0.87.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 8.58%. The ex-dividend date is Friday, November 10th. This is a positive change from Macquarie Infrastructure’s previous quarterly dividend of $1.38. Macquarie Infrastructure’s dividend payout ratio is currently 259.15%.
Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Macquarie Infrastructure by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,527,430 shares of the conglomerate’s stock worth $511,751,000 after buying an additional 213,571 shares during the period. Macquarie Group Ltd. raised its stake in shares of Macquarie Infrastructure by 4.5% during the 3rd quarter. Macquarie Group Ltd. now owns 5,336,110 shares of the conglomerate’s stock worth $385,160,000 after buying an additional 228,693 shares during the period. Principal Financial Group Inc. raised its stake in shares of Macquarie Infrastructure by 0.6% during the 2nd quarter. Principal Financial Group Inc. now owns 2,468,616 shares of the conglomerate’s stock worth $193,540,000 after buying an additional 14,255 shares during the period. State Street Corp raised its stake in shares of Macquarie Infrastructure by 4.7% during the 2nd quarter. State Street Corp now owns 1,831,999 shares of the conglomerate’s stock worth $143,638,000 after buying an additional 82,988 shares during the period. Finally, Selz Capital LLC raised its stake in shares of Macquarie Infrastructure by 1.7% during the 2nd quarter. Selz Capital LLC now owns 1,041,049 shares of the conglomerate’s stock worth $81,618,000 after buying an additional 17,029 shares during the period. Institutional investors and hedge funds own 81.29% of the company’s stock.
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Macquarie Infrastructure Company Profile
Macquarie Infrastructure Corporation owns and operates a group of businesses that provide services, such as bulk liquid terminalling and handling services. The Company operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP) and MIC Hawaii. Its group of businesses also provides services, such as aircraft fueling, CP generation and utility gas services.
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