Maryland State Retirement & Pension System Boosts Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Maryland State Retirement & Pension System lifted its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,765 shares of the company’s stock after purchasing an additional 888 shares during the period. Maryland State Retirement & Pension System’s holdings in New Fortress Energy were worth $1,828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NFE. Primecap Management Co. CA lifted its position in New Fortress Energy by 553.0% during the 4th quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company’s stock valued at $129,727,000 after acquiring an additional 2,911,800 shares during the period. Vanguard Group Inc. increased its stake in 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 in the last quarter. Capital World Investors increased its stake in New Fortress Energy by 8.3% during the 4th quarter. Capital World Investors now owns 14,964,622 shares of the company’s stock valued at $564,615,000 after purchasing an additional 1,152,125 shares in the last quarter. M&G Investment Management Ltd. increased its stake in New Fortress Energy by 70.3% during the 4th 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. Finally, Norges Bank bought a new stake in New Fortress Energy during the 4th quarter valued at about $23,657,000. 58.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NFE has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced 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 note on Thursday, May 9th. Stifel Nicolaus reduced their price objective on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Barclays reduced their price target on shares of 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.17.

New Fortress Energy Trading Down 3.4 %

NFE stock traded down $0.69 during mid-day trading on Friday, reaching $19.67. 294,159 shares of the stock traded hands, compared to its average volume of 1,585,956. 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 Inc. has a one year low of $19.52 and a one year high of $40.04. The stock has a market capitalization of $4.03 billion, a PE ratio of 9.25 and a beta of 1.49. The business has a 50-day moving average price of $24.18 and a two-hundred day moving average price of $29.67.

New Fortress Energy (NASDAQ:NFE) last posted 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. The firm had revenue of $690.30 million for the quarter, compared to analysts’ expectations of $602.41 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. Equities research analysts expect that New Fortress Energy Inc. will post 1.99 EPS for the current year.

New Fortress Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Saturday, June 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was 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.