M&G Investment Management Ltd. increased its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 70.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,537,323 shares of the company's stock after acquiring an additional 634,851 shares during the period. M&G Investment Management Ltd. owned about 0.75% of New Fortress Energy worth $58,418,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its holdings in New Fortress Energy by 28.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 23,294 shares of the company's stock worth $764,000 after purchasing an additional 5,100 shares during the period. Bank of New York Mellon Corp grew its position in shares of New Fortress Energy by 69.7% in the third quarter. Bank of New York Mellon Corp now owns 301,329 shares of the company's stock valued at $9,878,000 after purchasing an additional 123,815 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of New Fortress Energy by 24.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,365 shares of the company's stock worth $438,000 after purchasing an additional 2,591 shares in the last quarter. Jennison Associates LLC raised its position in shares of New Fortress Energy by 4.2% during the 3rd quarter. Jennison Associates LLC now owns 341,210 shares of the company's stock worth $11,185,000 after purchasing an additional 13,895 shares during the last quarter. Finally, Aubrey Capital Management Ltd lifted its stake in New Fortress Energy by 29.3% in the 3rd quarter. Aubrey Capital Management Ltd now owns 46,473 shares of the company's stock valued at $1,523,000 after buying an additional 10,539 shares in the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.
New Fortress Energy Trading Down 8.0 %
Shares of NFE traded down $2.31 during midday trading on Wednesday, reaching $26.55. The company had a trading volume of 3,429,788 shares, compared to its average volume of 1,403,097. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 3.74. New Fortress Energy Inc. has a 1-year low of $25.06 and a 1-year high of $40.04. The firm has a 50 day simple moving average of $28.98 and a 200-day simple moving average of $32.67. The stock has a market cap of $5.44 billion, a PE ratio of 12.07 and a beta of 1.55.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The company had revenue of $690.30 million for the quarter, compared to analyst estimates of $602.41 million. During the same period in the previous year, the business posted $0.90 EPS. New Fortress Energy's revenue was up 19.2% on a year-over-year basis. Research analysts forecast that New Fortress Energy Inc. will post 2.37 EPS for the current fiscal year.
New Fortress Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Saturday, June 15th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, June 14th. New Fortress Energy's dividend payout ratio is presently 18.18%.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft cut their price objective on New Fortress Energy from $35.00 to $33.00 and set a "hold" rating for the company in a research note on Thursday, May 9th. Barclays reduced their price objective on New Fortress Energy from $32.00 to $27.00 and set an "equal weight" rating for the company in a research note on Monday, May 6th. Finally, Stifel Nicolaus lowered their target price on shares of New Fortress Energy from $45.00 to $43.00 and set a "buy" rating on the stock in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $38.00.
Read Our Latest Research Report on NFE
New Fortress Energy 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.
Featured Stories
Before you consider New Fortress Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Fortress Energy wasn't on the list.
While New Fortress Energy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
