New Fortress Energy Inc. (NASDAQ:NFE) Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its holdings in New Fortress Energy Inc. (NASDAQ:NFE) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,765 shares of the company’s stock after buying an additional 888 shares during the quarter. Maryland State Retirement & Pension System’s holdings in New Fortress Energy were worth $1,828,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capital World Investors grew its holdings in New Fortress Energy by 8.3% in the 4th quarter. Capital World Investors now owns 14,964,622 shares of the company’s stock worth $564,615,000 after buying an additional 1,152,125 shares in the last quarter. Vanguard Group Inc. boosted its stake in New Fortress Energy by 41.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock valued at $278,035,000 after purchasing an additional 2,482,627 shares in the last quarter. Primecap Management Co. CA boosted its stake in New Fortress Energy by 553.0% during the 4th quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company’s stock valued at $129,727,000 after purchasing an additional 2,911,800 shares in the last quarter. M&G Investment Management Ltd. boosted its stake in New Fortress Energy by 70.3% during the 4th quarter. M&G Investment Management Ltd. now owns 1,537,323 shares of the company’s stock valued at $58,418,000 after purchasing an additional 634,851 shares in the last quarter. Finally, Electron Capital Partners LLC boosted its stake in New Fortress Energy by 9.4% during the 4th quarter. Electron Capital Partners LLC now owns 1,322,340 shares of the company’s stock valued at $49,892,000 after purchasing an additional 113,835 shares in the last quarter. 58.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on NFE. Barclays decreased their price target 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. Deutsche Bank Aktiengesellschaft reduced 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, Stifel Nicolaus reduced their price objective on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.17.

New Fortress Energy Stock Down 3.4 %

Shares of NASDAQ:NFE traded down $0.69 during midday trading on Friday, hitting $19.67. 294,159 shares of the stock were exchanged, compared to its average volume of 1,585,956. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.54 and a current ratio of 0.66. New Fortress Energy Inc. has a 52-week low of $19.52 and a 52-week high of $40.04. The business’s fifty day simple moving average is $24.18 and its two-hundred day simple moving average is $29.67. The company has a market capitalization of $4.03 billion, a PE ratio of 9.25 and a beta of 1.49.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $690.30 million during the quarter, compared to analyst estimates of $602.41 million. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. New Fortress Energy’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. As a group, research analysts predict that New Fortress Energy Inc. will post 1.99 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Saturday, June 15th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Friday, June 14th. New Fortress Energy’s dividend payout ratio is currently 18.18%.

New Fortress Energy 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.