Susquehanna Fundamental Investments LLC Invests $1.12 Million in New Fortress Energy Inc. (NASDAQ:NFE)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 51,020 shares of the company’s stock, valued at approximately $1,121,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. X Square Capital LLC increased its position in shares of New Fortress Energy by 0.6% during the second quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock worth $3,020,000 after acquiring an additional 781 shares during the period. Maryland State Retirement & Pension System raised its stake in New Fortress Energy by 1.5% during the 1st quarter. Maryland State Retirement & Pension System now owns 59,765 shares of the company’s stock valued at $1,828,000 after acquiring an additional 888 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of New Fortress Energy by 4.8% in the second quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock valued at $477,000 after purchasing an additional 999 shares during the period. Tidal Investments LLC boosted its stake in shares of New Fortress Energy by 10.9% in the first quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock valued at $315,000 after buying an additional 1,009 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of New Fortress Energy by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company’s stock worth $479,000 after acquiring an additional 1,024 shares during the period. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Stock Performance

Shares of New Fortress Energy stock opened at $9.68 on Wednesday. The firm has a 50 day simple moving average of $13.50 and a 200 day simple moving average of $21.32. New Fortress Energy Inc. has a fifty-two week low of $8.20 and a fifty-two week high of $40.04. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.72 and a quick ratio of 0.63. The firm has a market cap of $1.99 billion, a P/E ratio of 4.40 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.50). New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The company had revenue of $428.00 million for the quarter, compared to the consensus estimate of $465.52 million. During the same period in the prior year, the company earned $0.58 EPS. The firm’s revenue was down 23.7% on a year-over-year basis. Sell-side analysts predict that New Fortress Energy Inc. will post 0.54 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Friday, September 13th. New Fortress Energy’s payout ratio is presently 18.18%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. BTIG Research decreased their price objective on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Barclays lowered their price objective on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus cut their price objective on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating and set a $7.60 price objective (down previously from $21.00) on shares of New Fortress Energy in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.72.

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.