Raymond James & Associates Decreases Stock Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Raymond James & Associates reduced its holdings in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 27.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,444 shares of the company’s stock after selling 7,666 shares during the quarter. Raymond James & Associates’ holdings in New Fortress Energy were worth $771,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Citigroup Inc. increased its stake in shares of New Fortress Energy by 9.7% during the 3rd quarter. Citigroup Inc. now owns 12,341 shares of the company’s stock worth $405,000 after purchasing an additional 1,092 shares during the last quarter. Vanguard Group Inc. increased its position in New Fortress Energy by 41.4% in the third quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock worth $278,035,000 after buying an additional 2,482,627 shares during the last quarter. Callodine Capital Management LP raised its stake in shares of New Fortress Energy by 40.5% in the third quarter. Callodine Capital Management LP now owns 316,120 shares of the company’s stock valued at $10,362,000 after buying an additional 91,120 shares during the period. Crestwood Advisors Group LLC purchased a new position in shares of New Fortress Energy during the 3rd quarter valued at $1,147,000. Finally, Barclays PLC grew its stake in shares of New Fortress Energy by 47.3% during the 3rd quarter. Barclays PLC now owns 733,917 shares of the company’s stock worth $24,058,000 after acquiring an additional 235,807 shares during the period. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Stock Down 0.2 %

NFE opened at $28.07 on Wednesday. The firm has a market capitalization of $5.76 billion, a P/E ratio of 10.59 and a beta of 1.53. New Fortress Energy Inc. has a one year low of $25.06 and a one year high of $40.04. The company has a fifty day moving average price of $30.79 and a 200-day moving average price of $33.31. 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 (NASDAQ:NFE) last posted its earnings results on Thursday, February 29th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.93 by $0.08. New Fortress Energy had a return on equity of 36.16% and a net margin of 22.70%. The business had revenue of $758.60 million during the quarter, compared to analysts’ expectations of $647.54 million. During the same period in the previous year, the business earned $0.87 earnings per share. The firm’s revenue was up 38.8% on a year-over-year basis. Equities research analysts expect that New Fortress Energy Inc. will post 3.73 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Thursday, March 14th. New Fortress Energy’s dividend payout ratio is currently 15.09%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $35.00 price objective (down from $40.00) on shares of New Fortress Energy in a report on Monday, March 4th. Stifel Nicolaus dropped their price target on shares of New Fortress Energy from $49.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, New Fortress Energy presently has an average rating of “Hold” and a consensus target price of $39.29.

New Fortress Energy 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.