New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 14,060,000 shares, an increase of 26.2% from the February 29th total of 11,140,000 shares. Based on an average daily volume of 1,300,000 shares, the short-interest ratio is presently 10.8 days. Approximately 13.4% of the company's stock are sold short.
Institutional Investors Weigh In On New Fortress Energy
A number of large investors have recently modified their holdings of NFE. Primecap Management Co. CA lifted its position in shares of New Fortress Energy by 553.0% during the fourth quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company's stock worth $129,727,000 after purchasing an additional 2,911,800 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of New Fortress Energy by 41.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company's stock valued at $278,035,000 after acquiring an additional 2,482,627 shares during the period. Capital World Investors increased its holdings in shares of New Fortress Energy by 8.3% in the 4th quarter. Capital World Investors now owns 14,964,622 shares of the company's stock valued at $564,615,000 after acquiring an additional 1,152,125 shares during the period. Norges Bank acquired a new position in shares of New Fortress Energy in the 4th quarter valued at $39,412,000. Finally, Electron Capital Partners LLC increased its holdings in shares of New Fortress Energy by 208.4% in the 3rd quarter. Electron Capital Partners LLC now owns 1,208,505 shares of the company's stock valued at $39,615,000 after acquiring an additional 816,643 shares during the period. Hedge funds and other institutional investors own 58.61% of the company's stock.
Analyst Ratings Changes
A number of research firms have commented on NFE. Stifel Nicolaus reduced their target price on New Fortress Energy from $49.00 to $45.00 and set a "buy" rating for the company in a report on Friday, March 1st. Capital One Financial started coverage on New Fortress Energy in a research note on Tuesday, December 19th. They issued an "equal weight" rating and a $45.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $35.00 target price (down from $40.00) on shares of New Fortress Energy in a research report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $39.29.
View Our Latest Stock Report on New Fortress Energy
New Fortress Energy Stock Down 1.5 %
NASDAQ NFE traded down $0.47 during trading on Monday, hitting $30.12. The company's stock had a trading volume of 997,542 shares, compared to its average volume of 1,337,790. The company has a market cap of $6.18 billion, a PE ratio of 11.38 and a beta of 1.53. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.57 and a quick ratio of 0.51. The business's 50 day simple moving average is $32.06 and its 200-day simple moving average is $33.53. New Fortress Energy has a fifty-two week low of $25.06 and a fifty-two week high of $40.04.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its earnings results on Thursday, February 29th. The company reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.08. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The company had revenue of $758.60 million during the quarter, compared to analysts' expectations of $647.54 million. During the same period last year, the business earned $0.87 EPS. New Fortress Energy's revenue for the quarter was up 38.8% on a year-over-year basis. On average, equities analysts anticipate that New Fortress Energy will post 3.73 EPS for the current fiscal year.
New Fortress Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 15th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.33%. The ex-dividend date was Thursday, March 14th. New Fortress Energy's payout ratio is presently 15.09%.
New Fortress Energy Company Profile
(
Get 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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