CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Grows Position in Equinix, Inc. (NASDAQ:EQIX)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the financial services provider’s stock after acquiring an additional 1,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Equinix were worth $2,829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GHP Investment Advisors Inc. increased its position in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Sugarloaf Wealth Management LLC grew its position in Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after buying an additional 20 shares during the period. Dunhill Financial LLC raised its position in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares during the period. Finally, Webster Bank N. A. boosted its stake in Equinix by 112.5% in the third quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. HSBC raised Equinix from a “hold” rating to a “buy” rating and raised their target price for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Evercore ISI upped their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. TD Cowen lifted their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays raised their price objective on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Finally, BMO Capital Markets boosted their target price on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $984.88.

Equinix Stock Down 0.0 %

EQIX stock opened at $940.85 on Friday. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The stock has a market cap of $90.78 billion, a price-to-earnings ratio of 84.84, a price-to-earnings-growth ratio of 2.20 and a beta of 0.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The company’s 50 day moving average is $943.64 and its 200 day moving average is $880.78.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.81%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is currently 153.65%.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the sale, the executive vice president now directly owns 4,893 shares in the company, valued at $4,518,979.08. This represents a 17.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brandi Galvin Morandi sold 1,726 shares of Equinix stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $904.99, for a total value of $1,562,012.74. Following the completion of the transaction, the insider now directly owns 6,505 shares in the company, valued at $5,886,959.95. This trade represents a 20.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,549 shares of company stock worth $18,036,455. 0.27% of the stock is currently owned by corporate insiders.

Equinix Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.