Huber Capital Management LLC Buys 139,711 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Huber Capital Management LLC raised its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 52.4% in the second quarter, Holdings Channel.com reports. The firm owned 406,377 shares of the company’s stock after acquiring an additional 139,711 shares during the period. New Fortress Energy makes up approximately 2.0% of Huber Capital Management LLC’s holdings, making the stock its 13th largest holding. Huber Capital Management LLC’s holdings in New Fortress Energy were worth $8,932,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NFE. Capital World Investors increased its position in shares of New Fortress Energy by 1.5% during the first quarter. Capital World Investors now owns 15,182,319 shares of the company’s stock valued at $464,427,000 after purchasing an additional 217,697 shares during the period. William Blair Investment Management LLC increased its holdings in New Fortress Energy by 7.1% in the 2nd quarter. William Blair Investment Management LLC now owns 9,549,412 shares of the company’s stock valued at $209,896,000 after buying an additional 633,170 shares during the period. Primecap Management Co. CA increased its holdings in New Fortress Energy by 73.9% in the 2nd quarter. Primecap Management Co. CA now owns 8,026,130 shares of the company’s stock valued at $176,414,000 after buying an additional 3,410,630 shares during the period. M&G Plc raised its stake in shares of New Fortress Energy by 52.6% in the 2nd quarter. M&G Plc now owns 2,537,712 shares of the company’s stock valued at $55,830,000 after buying an additional 874,210 shares in the last quarter. Finally, Kailix Advisors LLC lifted its holdings in shares of New Fortress Energy by 11.9% during the 2nd quarter. Kailix Advisors LLC now owns 2,203,824 shares of the company’s stock worth $50,622,000 after acquiring an additional 234,371 shares during the period. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Stock Down 10.5 %

NASDAQ NFE opened at $9.49 on Friday. The stock’s 50 day simple moving average is $15.22 and its 200 day simple moving average is $22.44. New Fortress Energy Inc. has a one year low of $9.39 and a one year high of $40.04. The firm has a market cap of $1.95 billion, a PE ratio of 4.31 and a beta of 1.53. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.72 and a quick ratio of 0.63.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.50). New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The business had revenue of $428.00 million for the quarter, compared to the consensus estimate of $465.52 million. During the same quarter in the previous year, the company posted $0.58 EPS. New Fortress Energy’s revenue for the quarter was down 23.7% on a year-over-year basis. As a group, sell-side analysts forecast that New Fortress Energy Inc. will post 0.58 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Friday, September 13th. New Fortress Energy’s dividend payout ratio is presently 18.18%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NFE shares. Barclays dropped their price target on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. BTIG Research cut their target price on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Stifel Nicolaus lowered their price target on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $23.40.

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.