Public Employees Retirement System of Ohio Reduces Stock Position in New Fortress Energy Inc. (NASDAQ:NFE)

Public Employees Retirement System of Ohio lowered its position in shares of New Fortress Energy Inc. (NASDAQ:NFEFree Report) by 10.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,379 shares of the company’s stock after selling 2,923 shares during the period. Public Employees Retirement System of Ohio’s holdings in New Fortress Energy were worth $865,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of New Fortress Energy by 7.4% in the 1st quarter. JPMorgan Chase & Co. now owns 20,164 shares of the company’s stock worth $859,000 after purchasing an additional 1,385 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of New Fortress Energy in the 1st quarter worth about $238,000. Bank of New York Mellon Corp lifted its position in shares of New Fortress Energy by 9.6% in the 1st quarter. Bank of New York Mellon Corp now owns 115,094 shares of the company’s stock worth $4,905,000 after purchasing an additional 10,069 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of New Fortress Energy in the 1st quarter worth about $597,000. Finally, HighTower Advisors LLC lifted its position in shares of New Fortress Energy by 1.9% in the 1st quarter. HighTower Advisors LLC now owns 15,776 shares of the company’s stock worth $673,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 50.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on NFE. Capital One Financial began coverage on shares of New Fortress Energy in a research report on Tuesday, December 19th. They issued an “equal weight” rating and a $45.00 target price for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $35.00 price target (down from $40.00) on shares of New Fortress Energy in a research report on Monday, March 4th. Finally, Stifel Nicolaus lowered their price target on shares of New Fortress Energy from $49.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $39.29.

Get Our Latest Analysis on New Fortress Energy

New Fortress Energy Trading Down 0.5 %

Shares of NASDAQ NFE opened at $29.60 on Wednesday. The stock has a market cap of $6.07 billion, a P/E ratio of 11.17 and a beta of 1.54. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.57 and a quick ratio of 0.51. New Fortress Energy Inc. has a 1 year low of $25.06 and a 1 year high of $40.04. The firm has a 50-day moving average of $32.26 and a 200 day moving average of $33.57.

New Fortress Energy (NASDAQ:NFEGet Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. The business had revenue of $758.60 million during the quarter, compared to analyst estimates of $647.54 million. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. New Fortress Energy’s revenue was up 38.8% compared to the same quarter last year. During the same period last year, the business earned $0.87 EPS. As a group, sell-side analysts expect that New Fortress Energy Inc. will post 3.77 EPS for the current fiscal year.

New Fortress Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.35%. New Fortress Energy’s dividend payout ratio is currently 15.09%.

New Fortress Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for New Fortress Energy (NASDAQ:NFE)

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