Baird Financial Group Inc. purchased a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE – Get Rating) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 9,370 shares of the company’s stock, valued at approximately $371,000.
Several other large investors have also made changes to their positions in NFE. Northwestern Mutual Wealth Management Co. bought a new position in New Fortress Energy in the second quarter valued at about $25,000. Signaturefd LLC bought a new stake in shares of New Fortress Energy during the 1st quarter valued at approximately $31,000. Krane Funds Advisors LLC acquired a new position in New Fortress Energy during the 1st quarter worth approximately $31,000. Van ECK Associates Corp boosted its position in New Fortress Energy by 160.2% in the first quarter. Van ECK Associates Corp now owns 955 shares of the company’s stock valued at $41,000 after buying an additional 588 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of New Fortress Energy by 41.1% during the first quarter. BNP Paribas Arbitrage SA now owns 1,084 shares of the company’s stock worth $46,000 after buying an additional 316 shares during the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. TheStreet raised New Fortress Energy from a “c” rating to a “b-” rating in a report on Tuesday, November 8th. BTIG Research downgraded shares of New Fortress Energy from a “buy” rating to a “neutral” rating in a research report on Friday, September 9th. Morgan Stanley upped their price target on shares of New Fortress Energy from $58.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, September 6th. Barclays lifted their price target on shares of New Fortress Energy from $48.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 16th. Finally, JMP Securities raised their target price on New Fortress Energy from $56.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Monday, August 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, New Fortress Energy currently has a consensus rating of “Moderate Buy” and an average price target of $62.50.
New Fortress Energy Stock Performance
New Fortress Energy (NASDAQ:NFE – Get Rating) last announced its earnings results on Tuesday, November 8th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.58). The business had revenue of $731.93 million for the quarter, compared to the consensus estimate of $741.10 million. New Fortress Energy had a net margin of 11.38% and a return on equity of 33.81%. As a group, analysts anticipate that New Fortress Energy Inc. will post 3.86 EPS for the current year.
New Fortress Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Wednesday, December 7th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, December 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.85%. New Fortress Energy’s payout ratio is presently 30.08%.
New Fortress Energy Company Profile
New Fortress Energy Inc operates as an integrated gas-to-power 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.
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