Raymond James Financial Services Advisors Inc. Makes New Investment in New Fortress Energy Inc. (NASDAQ:NFE)

Raymond James Financial Services Advisors Inc. purchased a new position in New Fortress Energy Inc. (NASDAQ:NFE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,573 shares of the company’s stock, valued at approximately $210,000.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of New Fortress Energy by 41.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock valued at $278,035,000 after purchasing an additional 2,482,627 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of New Fortress Energy by 12.0% during the 3rd quarter. William Blair Investment Management LLC now owns 6,275,847 shares of the company’s stock valued at $205,722,000 after purchasing an additional 674,685 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of New Fortress Energy by 10.8% during the 3rd quarter. Federated Hermes Inc. now owns 4,401,700 shares of the company’s stock valued at $144,288,000 after purchasing an additional 427,300 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of New Fortress Energy by 1.4% during the 3rd quarter. Invesco Ltd. now owns 3,427,576 shares of the company’s stock valued at $112,356,000 after purchasing an additional 46,584 shares during the last quarter. Finally, Electron Capital Partners LLC boosted its holdings in shares of New Fortress Energy by 208.4% during the 3rd quarter. Electron Capital Partners LLC now owns 1,208,505 shares of the company’s stock valued at $39,615,000 after purchasing an additional 816,643 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Stock Down 1.7 %

Shares of NASDAQ:NFE opened at $27.60 on Thursday. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 3.66. New Fortress Energy Inc. has a 12 month low of $25.06 and a 12 month high of $40.04. The company has a 50-day moving average price of $30.72 and a 200 day moving average price of $33.27. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 10.42 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Thursday, February 29th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. The firm had revenue of $758.60 million during the quarter, compared to the consensus estimate of $647.54 million. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The firm’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.87 EPS. As a group, equities research analysts predict that New Fortress Energy Inc. will post 3.73 earnings per share for the current year.

New Fortress Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Thursday, March 14th. New Fortress Energy’s payout ratio is currently 15.09%.

Wall Street Analyst Weigh In

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

New Fortress Energy Company 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.