Swiss National Bank Has $4.25 Million Stock Position in New Fortress Energy Inc. (NASDAQ:NFE)

Swiss National Bank lifted its position in shares of New Fortress Energy Inc. (NASDAQ:NFE – Get Rating) by 1.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,200 shares of the company’s stock after buying an additional 1,800 shares during the quarter. Swiss National Bank’s holdings in New Fortress Energy were worth $4,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aubrey Capital Management Ltd raised its stake in New Fortress Energy by 82.7% in the fourth quarter. Aubrey Capital Management Ltd now owns 15,034 shares of the company’s stock valued at $633,000 after purchasing an additional 6,805 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in New Fortress Energy in the fourth quarter valued at about $177,000. Beck Bode LLC raised its stake in New Fortress Energy by 35.7% in the fourth quarter. Beck Bode LLC now owns 49,564 shares of the company’s stock valued at $2,103,000 after purchasing an additional 13,049 shares in the last quarter. Arizona State Retirement System raised its stake in New Fortress Energy by 3.8% in the fourth quarter. Arizona State Retirement System now owns 11,713 shares of the company’s stock valued at $497,000 after purchasing an additional 432 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in New Fortress Energy by 4.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 24,897 shares of the company’s stock valued at $1,056,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 50.16% of the company’s stock.

Analyst Ratings Changes

NFE has been the subject of several research analyst reports. Citigroup lowered their target price on New Fortress Energy from $56.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, January 27th. Morgan Stanley lowered their target price on New Fortress Energy from $65.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, February 15th. BTIG Research raised New Fortress Energy from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 31st. Barclays reduced their price target on New Fortress Energy from $39.00 to $34.00 in a report on Monday, April 24th. Finally, Stifel Nicolaus boosted their price target on New Fortress Energy from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, March 7th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.70.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE opened at $27.40 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 3.42. New Fortress Energy Inc. has a twelve month low of $26.14 and a twelve month high of $63.06. The stock’s 50 day moving average is $29.20 and its 200-day moving average is $37.75. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 55.92 and a beta of 1.61.

New Fortress Energy (NASDAQ:NFE – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.07). The company had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $700.26 million. New Fortress Energy had a net margin of 4.36% and a return on equity of 34.54%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 earnings per share. Sell-side analysts forecast that New Fortress Energy Inc. will post 4.99 EPS for the current fiscal year.

New Fortress Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Investors of record on Thursday, June 15th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Wednesday, June 14th. New Fortress Energy’s payout ratio is currently 81.63%.

About New Fortress Energy

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New Fortress Energy, Inc is a holding company engaged in the management of integrated gas-to-power energy infrastructure. It funds, builds, and operates natural gas infrastructure and logistics to deliver energy solutions. The company was founded by Wesley Robert Edens on February 25, 2014 and is headquartered in New York, NY.