Macquarie Infrastructure Co. (MIC) Shares Gap Up to $80.99
Macquarie Infrastructure Co. (NYSE:MIC) gapped up before the market opened on Friday . The stock had previously closed at $80.78, but opened at $80.99. Macquarie Infrastructure shares last traded at $81.62, with a volume of 112,753 shares traded.
MIC has been the subject of several research analyst reports. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Macquarie Infrastructure in a research note on Saturday, May 14th. TheStreet upgraded Macquarie Infrastructure from a “hold” rating to a “buy” rating in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $88.33.
The firm has a 50 day moving average of $79.09 and a 200 day moving average of $71.25. The company has a market capitalization of $6.69 billion and a P/E ratio of 77.36.
Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings data on Monday, August 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.20. The firm earned $397.60 million during the quarter, compared to analyst estimates of $399.95 million. On average, analysts expect that Macquarie Infrastructure Co. will post $1.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 16th. Stockholders of record on Thursday, August 11th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 6.09%. This is a positive change from Macquarie Infrastructure’s previous quarterly dividend of $1.20. The ex-dividend date was Tuesday, August 9th.
In other news, Director Norman H. Brown, Jr. sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $80.17, for a total transaction of $320,680.00. Following the completion of the sale, the director now directly owns 49,021 shares of the company’s stock, valued at approximately $3,930,013.57. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Macquarie Infrastructure Corporation owns, operates and invests in a diversified group of infrastructure businesses providing basic services to customers in the United States. Its businesses consist of a bulk liquid terminals business, International-Matex Tank Terminals, an airport services business, Atlantic Aviation, a gas processing and distribution business, Hawaii Gas, and entities comprising a Contracted Power and Energy segment.