New Fortress Energy Inc. (NASDAQ:NFE) Shares Purchased by Dark Forest Capital Management LP

Dark Forest Capital Management LP raised its holdings in New Fortress Energy Inc. (NASDAQ:NFE) by 76.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,679 shares of the company’s stock after acquiring an additional 16,267 shares during the quarter. Dark Forest Capital Management LP’s holdings in New Fortress Energy were worth $828,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $38,647,000 after acquiring an additional 179,293 shares during the last quarter. Norges Bank purchased a new stake in shares of New Fortress Energy during the fourth quarter valued at $23,657,000. Franklin Resources Inc. lifted its holdings in shares of New Fortress Energy by 5.2% during the fourth quarter. Franklin Resources Inc. now owns 137,995 shares of the company’s stock valued at $5,207,000 after purchasing an additional 6,871 shares during the last quarter. Boulder Hill Capital Management LP acquired a new position in shares of New Fortress Energy in the 4th quarter valued at $672,000. Finally, Capital World Investors increased its stake 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 purchasing an additional 1,152,125 shares in the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Price Performance

NFE opened at $8.98 on Friday. The stock has a fifty day moving average price of $14.15 and a 200 day moving average price of $21.78. 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 Inc. has a 1 year low of $8.85 and a 1 year high of $40.04. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 4.08 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates 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% on a year-over-year basis. During the same period last year, the business earned $0.58 earnings per share. Analysts forecast that New Fortress Energy Inc. will post 0.54 EPS for the current fiscal year.

New Fortress Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.45%. The ex-dividend date is Friday, September 13th. New Fortress Energy’s dividend payout ratio is 18.18%.

Analysts Set New Price Targets

NFE has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Barclays cut their price target on shares of 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. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of 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. Finally, BTIG Research cut their target price on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, New Fortress Energy currently 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.