Shares of Macquarie Infrastructure Corp (NYSE:MIC) have earned an average recommendation of “Hold” from the five brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $83.67.
A number of equities research analysts recently commented on MIC shares. BidaskClub downgraded Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Zacks Investment Research upgraded Macquarie Infrastructure from a “hold” rating to a “strong-buy” rating and set a $84.00 target price on the stock in a research report on Wednesday, October 4th. Finally, SunTrust Banks decreased their target price on Macquarie Infrastructure to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 15th.
In other Macquarie Infrastructure news, Director Norman H. Brown, Jr. sold 2,151 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $66.07, for a total transaction of $142,116.57. Following the sale, the director now directly owns 46,925 shares in the company, valued at $3,100,334.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Norman H. Brown, Jr. sold 1,732 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $65.87, for a total value of $114,086.84. Following the sale, the director now owns 49,076 shares in the company, valued at $3,232,636.12. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.
Macquarie Infrastructure (MIC) traded down $0.51 during trading hours on Thursday, hitting $65.60. The company had a trading volume of 578,000 shares, compared to its average volume of 599,738. The company has a quick ratio of 0.93, a current ratio of 1.07 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $5,590.53, a P/E ratio of 31.04 and a beta of 0.86. Macquarie Infrastructure has a 12 month low of $63.08 and a 12 month high of $83.66.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were given a $1.42 dividend. This is an increase from Macquarie Infrastructure’s previous quarterly dividend of $1.38. This represents a $5.68 dividend on an annualized basis and a dividend yield of 8.66%. The ex-dividend date was Friday, November 10th. Macquarie Infrastructure’s payout ratio is currently 266.67%.
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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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