EA Series Trust bought a new stake in New Fortress Energy Inc. (NASDAQ:NFE – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,545 shares of the company’s stock, valued at approximately $390,000.
Other hedge funds have also recently bought and sold shares of the company. Pinnacle Associates Ltd. acquired a new position in New Fortress Energy during the second quarter worth $2,706,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of New Fortress Energy by 3.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 81,569 shares of the company’s stock worth $2,401,000 after purchasing an additional 2,446 shares during the last quarter. Kailix Advisors LLC grew its holdings in shares of New Fortress Energy by 27.1% during the second quarter. Kailix Advisors LLC now owns 1,370,253 shares of the company’s stock worth $36,695,000 after purchasing an additional 291,974 shares during the last quarter. Sagefield Capital LP bought a new stake in shares of New Fortress Energy during the first quarter worth $342,000. Finally, Bright Rock Capital Management LLC bought a new stake in shares of New Fortress Energy during the first quarter worth $1,472,000. 50.16% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
NFE has been the topic of several research analyst reports. Morgan Stanley decreased their target price on New Fortress Energy from $48.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, August 9th. Stifel Nicolaus decreased their price target on New Fortress Energy from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, September 29th. Citigroup decreased their price target on New Fortress Energy from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, September 14th. Barclays decreased their price target on New Fortress Energy from $34.00 to $32.00 and set an “equal weight” rating on the stock in a report on Monday, July 31st. Finally, TheStreet upgraded New Fortress Energy from a “c” rating to a “b-” rating in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, New Fortress Energy has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.
New Fortress Energy Price Performance
Shares of NFE opened at $32.77 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 3.27. New Fortress Energy Inc. has a 1 year low of $25.06 and a 1 year high of $60.33. The stock has a market cap of $6.72 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.39 and a beta of 1.52. The stock’s 50-day moving average price is $30.99 and its two-hundred day moving average price is $29.46.
New Fortress Energy (NASDAQ:NFE – Get Free Report) last issued its earnings results on Tuesday, August 8th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. New Fortress Energy had a return on equity of 35.70% and a net margin of 16.35%. The firm had revenue of $561.35 million for the quarter, compared to analysts’ expectations of $573.60 million. During the same quarter last year, the business earned $0.69 earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. On average, equities analysts predict that New Fortress Energy Inc. will post 3.04 earnings per share for the current year.
New Fortress Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 13th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, September 12th. New Fortress Energy’s dividend payout ratio is currently 21.28%.
About New Fortress Energy
New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.
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