BNP Paribas Financial Markets Has $3.80 Million Stake in New Fortress Energy Inc. (NASDAQ:NFE)

BNP Paribas Financial Markets cut its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 24.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,589 shares of the company’s stock after selling 32,419 shares during the period. BNP Paribas Financial Markets’ holdings in New Fortress Energy were worth $3,795,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp acquired a new position in shares of New Fortress Energy in the fourth quarter worth $3,021,000. Citigroup Inc. raised 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 in the last quarter. Vanguard Group Inc. lifted 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 buying an additional 2,482,627 shares during the last quarter. Callodine Capital Management LP grew its stake in shares of New Fortress Energy by 40.5% in the 3rd 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 in the last quarter. Finally, Maryland State Retirement & Pension System increased its holdings in New Fortress Energy by 1.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 58,877 shares of the company’s stock worth $2,221,000 after buying an additional 736 shares during the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Trading Down 0.5 %

New Fortress Energy stock opened at $27.35 on Wednesday. The business’s 50-day simple moving average is $28.50 and its 200-day simple moving average is $32.59. New Fortress Energy Inc. has a 52 week low of $25.06 and a 52 week high of $40.04. The firm has a market capitalization of $5.61 billion, a PE ratio of 12.43 and a beta of 1.56. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.54 and a current ratio of 0.66.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The company had revenue of $690.30 million during the quarter, compared to analyst estimates of $602.41 million. During the same period in the previous year, the company earned $0.90 earnings per share. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. Equities research analysts forecast that New Fortress Energy Inc. will post 2.07 earnings per share for the current year.

New Fortress Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Saturday, June 15th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.46%. New Fortress Energy’s payout ratio is 18.18%.

Analyst Ratings Changes

Several analysts have commented on the stock. Stifel Nicolaus decreased their target price on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of New Fortress Energy from $35.00 to $33.00 and set a “hold” rating for the company in a report on Thursday, May 9th. Finally, Barclays cut their target price on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $38.00.

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.