New Fortress Energy Inc. (NASDAQ:NFE) Shares Acquired by Electron Capital Partners LLC

Electron Capital Partners LLC grew its holdings in shares of New Fortress Energy Inc. (NASDAQ:NFEFree Report) by 9.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,322,340 shares of the company’s stock after acquiring an additional 113,835 shares during the quarter. New Fortress Energy comprises approximately 2.1% of Electron Capital Partners LLC’s holdings, making the stock its 19th largest position. Electron Capital Partners LLC owned approximately 0.64% of New Fortress Energy worth $49,892,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NFE. Victory Capital Management Inc. raised its stake in New Fortress Energy by 20.1% during the 3rd quarter. Victory Capital Management Inc. now owns 13,255 shares of the company’s stock valued at $434,000 after purchasing an additional 2,214 shares during the last quarter. New York Life Investment Management LLC acquired a new position in New Fortress Energy during the third quarter valued at approximately $260,000. Swiss National Bank lifted its holdings in New Fortress Energy by 1.1% during the 3rd quarter. Swiss National Bank now owns 135,200 shares of the company’s stock valued at $4,432,000 after purchasing an additional 1,500 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in New Fortress Energy by 37.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 391,965 shares of the company’s stock worth $12,849,000 after purchasing an additional 106,794 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of New Fortress Energy by 15.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,623 shares of the company’s stock worth $119,000 after acquiring an additional 482 shares in the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Stock Up 1.9 %

New Fortress Energy stock traded up $0.42 during midday trading on Friday, reaching $22.05. The company’s stock had a trading volume of 2,480,059 shares, compared to its average volume of 1,722,714. The stock’s 50-day simple moving average is $26.21 and its 200-day simple moving average is $31.26. The stock has a market capitalization of $4.52 billion, a P/E ratio of 10.02 and a beta of 1.50. New Fortress Energy Inc. has a 52-week low of $21.02 and a 52-week high of $40.04. The company has a debt-to-equity ratio of 3.74, a current ratio of 0.66 and a quick ratio of 0.54.

New Fortress Energy (NASDAQ:NFEGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $690.30 million during the quarter, compared to analysts’ expectations of $602.41 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The company’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 earnings per share. On average, sell-side analysts expect that New Fortress Energy Inc. will post 2.07 EPS for the current year.

New Fortress Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Saturday, June 15th will be issued a $0.10 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.81%. New Fortress Energy’s payout ratio is 18.18%.

Wall Street Analyst Weigh In

NFE has been the subject of a number of research analyst reports. Barclays lowered their target price on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, May 6th. Stifel Nicolaus dropped their price objective on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of New Fortress Energy from $35.00 to $33.00 and set a “hold” rating for the company in a report on Thursday, May 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.17.

View Our Latest Research Report on New Fortress Energy

New Fortress Energy Company Profile

(Free Report)

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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Institutional Ownership by Quarter for New Fortress Energy (NASDAQ:NFE)

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