Quest Partners LLC Purchases 1,626 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Quest Partners LLC grew its position in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 16.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,428 shares of the company’s stock after buying an additional 1,626 shares during the period. Quest Partners LLC’s holdings in New Fortress Energy were worth $251,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NFE. Victory Capital Management Inc. increased its position in New Fortress Energy by 21.5% during the 4th quarter. Victory Capital Management Inc. now owns 16,103 shares of the company’s stock worth $608,000 after buying an additional 2,848 shares during the period. Charles Schwab Investment Management Inc. increased its position in New Fortress Energy by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 408,137 shares of the company’s stock worth $15,399,000 after buying an additional 16,172 shares during the period. Dimensional Fund Advisors LP increased its position in New Fortress Energy by 21.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,024,178 shares of the company’s stock worth $38,647,000 after buying an additional 179,293 shares during the period. Norges Bank acquired a new stake in shares of New Fortress Energy during the 4th quarter worth $23,657,000. Finally, Franklin Resources Inc. grew its holdings in shares of New Fortress Energy by 5.2% during the 4th quarter. Franklin Resources Inc. now owns 137,995 shares of the company’s stock worth $5,207,000 after purchasing an additional 6,871 shares in the last quarter. Institutional investors own 58.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Barclays reduced their target price on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. BTIG Research reduced their target price on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft reduced their target price on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Finally, Stifel Nicolaus reduced their target price on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.40.

New Fortress Energy Stock Performance

NASDAQ:NFE opened at $11.77 on Friday. The stock’s 50-day simple moving average is $16.14 and its 200 day simple moving average is $23.15. The firm has a market capitalization of $2.41 billion, a PE ratio of 5.35 and a beta of 1.53. The company has a quick ratio of 0.63, a current ratio of 0.72 and a debt-to-equity ratio of 4.38. New Fortress Energy Inc. has a twelve month low of $9.44 and a twelve month high of $40.04.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings data on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.50). New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. The business had revenue of $428.00 million during the quarter, compared to analyst estimates of $465.52 million. During the same period last year, the business earned $0.58 earnings per share. The business’s quarterly revenue was down 23.7% compared to the same quarter last year. On average, analysts anticipate that New Fortress Energy Inc. will post 0.58 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, September 13th. New Fortress Energy’s payout ratio is 18.18%.

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.