CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires Shares of 2,000 Equinix, Inc. (NASDAQ:EQIX)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the third quarter, according to its most recent filing with the SEC. The fund bought 2,000 shares of the financial services provider’s stock, valued at approximately $1,775,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cypress Capital Group lifted its holdings in Equinix by 2.3% during the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 13 shares during the last quarter. MRA Advisory Group increased its position in shares of Equinix by 3.2% during the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after buying an additional 13 shares during the period. Banco Santander S.A. lifted its stake in Equinix by 2.0% in the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 14 shares in the last quarter. Abbrea Capital LLC grew its position in shares of Equinix by 5.5% during the 2nd quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 14 shares in the last quarter. Finally, Grove Bank & Trust increased its holdings in shares of Equinix by 8.1% in the third quarter. Grove Bank & Trust now owns 186 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 14 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EQIX has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their target price on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Cfra reiterated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Wells Fargo & Company increased their price target on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their target price on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, Mizuho upped their price target on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and an average target price of $914.36.

Equinix Stock Performance

NASDAQ:EQIX traded down $1.72 during mid-day trading on Tuesday, reaching $878.22. The company’s stock had a trading volume of 98,021 shares, compared to its average volume of 526,790. The stock has a market cap of $83.35 billion, a P/E ratio of 88.43, a PEG ratio of 2.13 and a beta of 0.71. The firm’s fifty day moving average price is $856.57 and its two-hundred day moving average price is $798.32. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm earned $8.04 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.94%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

Insiders Place Their Bets

In related news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock worth $8,282,119 over the last three months. 0.27% of the stock is currently owned by company 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.