New Fortress Energy Inc. (NASDAQ:NFE) Shares Acquired by M&G Investment Management Ltd.

M&G Investment Management Ltd. increased its position in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 70.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,537,323 shares of the company’s stock after acquiring an additional 634,851 shares during the period. M&G Investment Management Ltd.’s holdings in New Fortress Energy were worth $58,418,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in shares of New Fortress Energy by 5.0% in the third quarter. PNC Financial Services Group Inc. now owns 6,730 shares of the company’s stock valued at $221,000 after acquiring an additional 319 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in New Fortress Energy by 2.8% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,137 shares of the company’s stock valued at $463,000 after purchasing an additional 384 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of New Fortress Energy by 15.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,623 shares of the company’s stock valued at $119,000 after buying an additional 482 shares during the period. ORG Partners LLC grew its position in shares of New Fortress Energy by 14.3% during the third quarter. ORG Partners LLC now owns 4,206 shares of the company’s stock worth $138,000 after buying an additional 526 shares in the last quarter. Finally, Hohimer Wealth Management LLC increased its stake in shares of New Fortress Energy by 1.3% during the third quarter. Hohimer Wealth Management LLC now owns 46,651 shares of the company’s stock worth $1,529,000 after buying an additional 589 shares during the period. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NFE shares. 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 research report on Thursday, May 9th. Barclays lowered their price objective on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, May 6th. Finally, Stifel Nicolaus cut their target price on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.00.

New Fortress Energy Stock Performance

Shares of New Fortress Energy stock traded down $2.12 during trading on Wednesday, reaching $26.74. The company’s stock had a trading volume of 2,567,250 shares, compared to its average volume of 1,392,409. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 3.74. The firm has a market cap of $5.48 billion, a PE ratio of 12.26 and a beta of 1.55. New Fortress Energy Inc. has a fifty-two week low of $25.06 and a fifty-two week high of $40.04. The company has a 50-day moving average price of $29.12 and a two-hundred day moving average price of $32.71.

New Fortress Energy (NASDAQ:NFE) last released its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating 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 business had revenue of $690.30 million for the quarter, compared to analyst estimates of $602.41 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, analysts forecast that New Fortress Energy Inc. will post 2.37 EPS for the current year.

New Fortress Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Saturday, June 15th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Friday, June 14th. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.

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.