Capital Management Associates NY Acquires 7,000 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Capital Management Associates NY boosted its position in New Fortress Energy Inc. (NASDAQ:NFE) by 53.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,000 shares of the company’s stock after acquiring an additional 7,000 shares during the period. Capital Management Associates NY’s holdings in New Fortress Energy were worth $755,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in New Fortress Energy by 41.4% in 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. William Blair Investment Management LLC raised its position in New Fortress Energy by 12.0% in 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 buying an additional 674,685 shares during the last quarter. Federated Hermes Inc. raised its position in New Fortress Energy by 10.8% in the 3rd quarter. Federated Hermes Inc. now owns 4,401,700 shares of the company’s stock valued at $144,288,000 after buying an additional 427,300 shares during the last quarter. Invesco Ltd. raised its position in New Fortress Energy by 1.4% in the 3rd quarter. Invesco Ltd. now owns 3,427,576 shares of the company’s stock valued at $112,356,000 after buying an additional 46,584 shares during the last quarter. Finally, M&G Investment Management Ltd. grew its stake in New Fortress Energy by 70.3% in the fourth quarter. M&G Investment Management Ltd. now owns 1,537,323 shares of the company’s stock valued at $58,418,000 after purchasing an additional 634,851 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

Wall Street Analysts Forecast Growth

NFE has been the subject of a number of analyst reports. Barclays decreased their price target on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. Stifel Nicolaus dropped their price target on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of New Fortress Energy from $35.00 to $33.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, New Fortress Energy presently has a consensus rating of “Hold” and a consensus target price of $38.00.

New Fortress Energy Stock Performance

NFE stock traded down $0.13 during trading hours on Tuesday, hitting $27.35. 1,058,840 shares of the stock were exchanged, compared to its average volume of 1,406,413. New Fortress Energy Inc. has a 12 month low of $25.06 and a 12 month high of $40.04. The firm has a market capitalization of $5.61 billion, a P/E ratio of 12.49 and a beta of 1.56. The company has a 50-day simple moving average of $28.60 and a two-hundred day simple moving average of $32.61. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 3.74.

New Fortress Energy (NASDAQ:NFE) last released its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share 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 firm had revenue of $690.30 million during the quarter, compared to the consensus estimate of $602.41 million. During the same period in the prior year, the company posted $0.90 EPS. The company’s revenue was up 19.2% compared to the same quarter last year. On average, analysts forecast that New Fortress Energy Inc. will post 2.07 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

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