Signaturefd LLC Buys 3,314 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Signaturefd LLC lifted its holdings in New Fortress Energy Inc. (NASDAQ:NFE) by 409.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,124 shares of the company’s stock after purchasing an additional 3,314 shares during the period. Signaturefd LLC’s holdings in New Fortress Energy were worth $37,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. nVerses Capital LLC bought a new position in shares of New Fortress Energy in the third quarter worth about $25,000. Vontobel Holding Ltd. purchased a new position in shares of New Fortress Energy in the 3rd quarter worth approximately $511,000. Creative Planning bought a new position in New Fortress Energy during the third quarter valued at $214,000. Exchange Traded Concepts LLC lifted its stake in New Fortress Energy by 13.9% in the third quarter. Exchange Traded Concepts LLC now owns 142,273 shares of the company’s stock worth $1,293,000 after purchasing an additional 17,393 shares during the last quarter. Finally, Quarry LP boosted its holdings in New Fortress Energy by 125.7% during the 2nd quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after acquiring an additional 1,253 shares during the period. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Price Performance

NASDAQ:NFE opened at $8.65 on Thursday. The stock has a 50 day moving average of $10.31 and a two-hundred day moving average of $18.23. New Fortress Energy Inc. has a 12 month low of $8.20 and a 12 month high of $40.04. The firm has a market cap of $1.77 billion, a P/E ratio of 7.33 and a beta of 1.51. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly 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). The firm had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $465.52 million. New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The firm’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 earnings per share. On average, analysts expect that New Fortress Energy Inc. will post 0.52 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date was Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is 33.90%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NFE shares. BTIG Research decreased their price target on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Morgan Stanley downgraded New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and set a $7.60 target price (down previously from $21.00) on shares of New Fortress Energy in a research report on Tuesday, October 1st. Barclays decreased their target price on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, Stifel Nicolaus decreased their price objective on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.77.

Insider Transactions at New Fortress Energy

In other New Fortress Energy news, CEO Wesley R. Edens acquired 5,793,742 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was bought at an average price of $8.63 per share, with a total value of $49,999,993.46. Following the purchase, the chief executive officer now owns 35,721,915 shares in the company, valued at approximately $308,280,126.45. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 37.10% of the company’s stock.

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.