Headlands Technologies LLC Takes $543,000 Position in New Fortress Energy Inc. (NASDAQ:NFE)

Headlands Technologies LLC purchased a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,682 shares of the company’s stock, valued at approximately $543,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC boosted its holdings in New Fortress Energy by 16.6% during the 2nd quarter. Quest Partners LLC now owns 11,428 shares of the company’s stock valued at $251,000 after acquiring an additional 1,626 shares during the period. X Square Capital LLC lifted 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 purchasing an additional 781 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of New Fortress Energy by 7.7% during the second quarter. Victory Capital Management Inc. now owns 14,933 shares of the company’s stock valued at $328,000 after purchasing an additional 1,062 shares during the period. Kailix Advisors LLC grew its holdings in shares of New Fortress Energy by 11.9% in the second quarter. Kailix Advisors LLC now owns 2,203,824 shares of the company’s stock worth $50,622,000 after purchasing an additional 234,371 shares during the last quarter. Finally, Versor Investments LP purchased a new position in New Fortress Energy in the 2nd quarter worth about $268,000. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Stock Up 2.1 %

Shares of New Fortress Energy stock opened at $10.91 on Friday. 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 stock has a market cap of $2.24 billion, a price-to-earnings ratio of 4.86 and a beta of 1.54. The firm’s 50-day moving average is $16.49 and its two-hundred day moving average is $23.44. New Fortress Energy Inc. has a 1 year low of $9.44 and a 1 year high of $40.04.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings data on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). The business had revenue of $428.00 million for the quarter, compared to the consensus estimate of $465.52 million. New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. New Fortress Energy’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 earnings per share. As a group, research analysts expect that New Fortress Energy Inc. will post 0.5 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.67%. New Fortress Energy’s dividend payout ratio is presently 18.18%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NFE shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Stifel Nicolaus lowered their price target on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Barclays reduced their price objective on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $29.00.

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.