Wells Fargo & Company MN cut its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE – Free Report) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 488,205 shares of the company’s stock after selling 30,424 shares during the period. Wells Fargo & Company MN owned about 0.24% of New Fortress Energy worth $18,420,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. Van ECK Associates Corp increased its holdings in New Fortress Energy by 15.3% in 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 during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of New Fortress Energy during the fourth quarter valued at about $210,000. PNC Financial Services Group Inc. increased its position in shares of New Fortress Energy by 5.0% during the third quarter. PNC Financial Services Group Inc. now owns 6,730 shares of the company’s stock valued at $221,000 after buying an additional 319 shares during the period. ELCO Management Co. LLC bought a new stake in shares of New Fortress Energy during the third quarter valued at about $229,000. Finally, Northeast Financial Consultants Inc bought a new stake in shares of New Fortress Energy during the third quarter valued at about $234,000. 58.61% of the stock is currently owned by institutional investors.
New Fortress Energy Trading Up 1.4 %
NASDAQ NFE opened at $24.55 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 3.74. New Fortress Energy Inc. has a 12 month low of $24.13 and a 12 month high of $40.04. The stock has a market cap of $5.03 billion, a P/E ratio of 11.16 and a beta of 1.55. The stock’s fifty day moving average price is $27.69 and its 200-day moving average price is $32.28.
New Fortress Energy (NASDAQ:NFE – Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The company had revenue of $690.30 million for the quarter, compared to analysts’ expectations of $602.41 million. During the same period last year, the firm posted $0.90 earnings per share. New Fortress Energy’s revenue was up 19.2% compared to the same quarter last year. As a group, equities analysts forecast that New Fortress Energy Inc. will post 2.07 EPS for the current fiscal year.
New Fortress Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Saturday, June 15th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.63%. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Stifel Nicolaus decreased their price target on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft dropped 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. Finally, Barclays dropped 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $38.00.
View Our Latest Stock Report on NFE
New Fortress Energy Company Profile
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 Articles
Receive News & Ratings for New Fortress Energy Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for New Fortress Energy and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
