Treasurer of the State of North Carolina lifted its position in New Fortress Energy Inc. (NASDAQ:NFE – Get Rating) by 15.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,912 shares of the company’s stock after acquiring an additional 3,260 shares during the period. Treasurer of the State of North Carolina’s holdings in New Fortress Energy were worth $1,014,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PointState Capital LP increased its holdings in New Fortress Energy by 153.9% during the first quarter. PointState Capital LP now owns 1,195,643 shares of the company’s stock valued at $50,946,000 after buying an additional 724,709 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in New Fortress Energy during the third quarter valued at approximately $28,342,000. Invesco Ltd. increased its stake in shares of New Fortress Energy by 579.3% in the first quarter. Invesco Ltd. now owns 522,106 shares of the company’s stock worth $22,246,000 after purchasing an additional 445,250 shares in the last quarter. First Trust Advisors LP increased its stake in shares of New Fortress Energy by 243.1% in the first quarter. First Trust Advisors LP now owns 423,619 shares of the company’s stock worth $18,050,000 after purchasing an additional 300,159 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of New Fortress Energy by 6.6% in the third quarter. Vanguard Group Inc. now owns 4,700,698 shares of the company’s stock worth $205,468,000 after purchasing an additional 290,136 shares in the last quarter. Institutional investors own 50.16% of the company’s stock.
Analysts Set New Price Targets
NFE has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of New Fortress Energy from $39.00 to $34.00 in a research note on Monday, April 24th. Morgan Stanley reduced their price target on shares of New Fortress Energy from $65.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, February 15th. Citigroup reduced their price target on shares of New Fortress Energy from $56.00 to $48.00 and set a “buy” rating for the company in a report on Friday, January 27th. BTIG Research upgraded shares of New Fortress Energy from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 31st. Finally, Stifel Nicolaus boosted their price target on shares of New Fortress Energy from $43.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday, March 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.70.
New Fortress Energy Trading Down 0.8 %
New Fortress Energy (NASDAQ:NFE – Get Rating) last issued its earnings results on Thursday, May 4th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.07). The firm had revenue of $579.10 million during the quarter, compared to analyst estimates of $700.26 million. New Fortress Energy had a net margin of 4.36% and a return on equity of 34.54%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business earned $1.13 EPS. On average, analysts predict that New Fortress Energy Inc. will post 4.99 EPS for the current year.
New Fortress Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.46%. New Fortress Energy’s payout ratio is currently 81.63%.
New Fortress Energy Profile
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.
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