New Fortress Energy Inc. (NASDAQ:NFE – Free Report) – Capital One Financial cut their FY2024 EPS estimates for shares of New Fortress Energy in a report released on Wednesday, October 2nd. Capital One Financial analyst W. Suki now anticipates that the company will post earnings per share of $0.45 for the year, down from their previous forecast of $0.72. The consensus estimate for New Fortress Energy’s current full-year earnings is $0.54 per share. Capital One Financial also issued estimates for New Fortress Energy’s Q4 2024 earnings at $0.08 EPS and FY2025 earnings at $0.91 EPS.
New Fortress Energy (NASDAQ:NFE – Get Free Report) last announced its quarterly earnings results 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 firm 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 business earned $0.58 earnings per share. The company’s revenue for the quarter was down 23.7% on a year-over-year basis.
Read Our Latest Stock Report on NFE
New Fortress Energy Trading Up 1.0 %
Shares of NFE stock opened at $9.03 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.72 and a debt-to-equity ratio of 4.38. The company has a market capitalization of $1.85 billion, a P/E ratio of 4.10 and a beta of 1.52. New Fortress Energy has a 12-month low of $8.20 and a 12-month high of $40.04. The firm has a 50-day moving average price of $12.80 and a 200 day moving average price of $20.99.
New Fortress Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.10 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 4.43%. New Fortress Energy’s dividend payout ratio is currently 18.18%.
Insider Buying and Selling at New Fortress Energy
In related news, CEO Wesley R. Edens acquired 5,793,742 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were purchased at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the completion of the acquisition, the chief executive officer now directly owns 35,721,915 shares in the company, valued at $308,280,126.45. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 37.10% of the company’s stock.
Hedge Funds Weigh In On New Fortress Energy
Institutional investors and hedge funds have recently modified their holdings of the stock. American National Bank acquired a new position in shares of New Fortress Energy in the second quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of New Fortress Energy by 563.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock valued at $42,000 after acquiring an additional 1,178 shares in the last quarter. Quarry LP grew its stake in shares of New Fortress Energy by 125.7% in the second quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after acquiring an additional 1,253 shares in the last quarter. ORG Partners LLC grew its stake in shares of 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 acquiring an additional 3,408 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of New Fortress Energy in the first quarter valued at about $95,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.
New Fortress Energy Company 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.
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