Kailix Advisors LLC lowered its position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,072,782 shares of the company's stock after selling 139,471 shares during the period. New Fortress Energy makes up about 22.7% of Kailix Advisors LLC's investment portfolio, making the stock its 3rd largest position. Kailix Advisors LLC owned approximately 0.52% of New Fortress Energy worth $40,476,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in NFE. Vanguard Group Inc. grew its position in shares of New Fortress Energy by 41.4% during the third quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company's stock worth $278,035,000 after buying an additional 2,482,627 shares in the last quarter. Electron Capital Partners LLC grew its position in shares of New Fortress Energy by 208.4% during the third quarter. Electron Capital Partners LLC now owns 1,208,505 shares of the company's stock worth $39,615,000 after buying an additional 816,643 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of New Fortress Energy by 12.0% during the third quarter. William Blair Investment Management LLC now owns 6,275,847 shares of the company's stock worth $205,722,000 after buying an additional 674,685 shares in the last quarter. Federated Hermes Inc. grew its position in shares of New Fortress Energy by 10.8% during the third quarter. Federated Hermes Inc. now owns 4,401,700 shares of the company's stock worth $144,288,000 after buying an additional 427,300 shares in the last quarter. Finally, PointState Capital LP grew its position in shares of New Fortress Energy by 130.7% during the third quarter. PointState Capital LP now owns 679,126 shares of the company's stock worth $22,262,000 after buying an additional 384,778 shares in the last quarter. Hedge funds and other institutional investors own 58.61% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on NFE. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $35.00 price target (down previously from $40.00) on shares of New Fortress Energy in a research report on Monday, March 4th. Stifel Nicolaus decreased their price objective on shares of New Fortress Energy from $49.00 to $45.00 and set a "buy" rating for the company in a report on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $39.29.
Check Out Our Latest Stock Report on NFE
New Fortress Energy Stock Performance
Shares of New Fortress Energy stock traded down $0.13 during trading on Friday, hitting $27.11. 1,278,180 shares of the stock were exchanged, compared to its average volume of 1,074,357. The stock's fifty day moving average is $30.51 and its 200 day moving average is $33.20. The stock has a market cap of $5.56 billion, a PE ratio of 10.23 and a beta of 1.53. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.51 and a current ratio of 0.57. New Fortress Energy Inc. has a 12 month low of $25.06 and a 12 month high of $40.04.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.93 by $0.08. The business had revenue of $758.60 million during the quarter, compared to analyst estimates of $647.54 million. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The company's quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 earnings per share. As a group, sell-side analysts anticipate that New Fortress Energy Inc. will post 3.73 EPS for the current year.
New Fortress Energy Announces Dividend
The business also recently disclosed 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 1.48%. The ex-dividend date of this dividend was Thursday, March 14th. New Fortress Energy's payout ratio is currently 15.09%.
About New Fortress Energy
(
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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