Electron Capital Partners LLC Sells 172,605 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Electron Capital Partners LLC lessened its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 16.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 868,058 shares of the company’s stock after selling 172,605 shares during the period. New Fortress Energy accounts for about 0.4% of Electron Capital Partners LLC’s portfolio, making the stock its 24th biggest position. Electron Capital Partners LLC’s holdings in New Fortress Energy were worth $19,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of NFE. American National Bank bought a new position in shares of New Fortress Energy in the 2nd quarter worth about $26,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of New Fortress Energy by 563.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock worth $42,000 after buying an additional 1,178 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in New Fortress Energy in the first quarter valued at approximately $95,000. Kapitalo Investimentos Ltda purchased a new position in New Fortress Energy in the fourth quarter valued at approximately $119,000. Finally, ORG Partners LLC lifted its stake in New Fortress Energy by 987.8% in the second quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock valued at $77,000 after purchasing an additional 3,408 shares during the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NFE. Barclays decreased their price target on shares of 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. Stifel Nicolaus dropped their target price on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 12th. BTIG Research lowered their price objective on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, New Fortress Energy has an average rating of “Hold” and a consensus target price of $23.40.

New Fortress Energy Stock Performance

Shares of NASDAQ:NFE opened at $9.55 on Thursday. The firm has a market cap of $1.96 billion, a PE ratio of 4.34 and a beta of 1.53. The firm’s 50 day simple moving average is $14.45 and its 200-day simple moving average is $21.87. New Fortress Energy Inc. has a one year low of $9.17 and a one year high of $40.04. The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.63 and a current ratio of 0.72.

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 net margin of 10.19% and a return on equity of 18.80%. The business had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $465.52 million. During the same period in the previous year, the business earned $0.58 earnings per share. The business’s quarterly revenue was down 23.7% compared to the same quarter last year. As a group, equities analysts predict that New Fortress Energy Inc. will post 0.54 EPS for the current year.

New Fortress Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.10 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 4.19%. 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.