Advanced Portfolio Management LLC Cuts Stock Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Advanced Portfolio Management LLC trimmed its position in shares of New Fortress Energy Inc. (NASDAQ:NFEFree Report) by 60.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,000 shares of the company’s stock after selling 120,000 shares during the quarter. New Fortress Energy accounts for approximately 2.2% of Advanced Portfolio Management LLC’s portfolio, making the stock its 18th largest holding. Advanced Portfolio Management LLC’s holdings in New Fortress Energy were worth $2,622,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. American International Group Inc. boosted its holdings in shares of New Fortress Energy by 49.5% in the 2nd quarter. American International Group Inc. now owns 752 shares of the company’s stock worth $30,000 after buying an additional 249 shares during the last quarter. Money Concepts Capital Corp purchased a new position in shares of New Fortress Energy in the 4th quarter worth about $38,000. Harbour Investments Inc. raised its stake in New Fortress Energy by 1,218.3% in the 2nd quarter. Harbour Investments Inc. now owns 936 shares of the company’s stock valued at $25,000 after acquiring an additional 865 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in New Fortress Energy by 41.1% during the first quarter. BNP Paribas Arbitrage SA now owns 1,084 shares of the company’s stock valued at $46,000 after purchasing an additional 316 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its holdings in New Fortress Energy by 62.5% during the second quarter. Banque Cantonale Vaudoise now owns 1,300 shares of the company’s stock valued at $35,000 after purchasing an additional 500 shares during the last quarter. 50.16% of the stock is owned by hedge funds and other institutional investors.

New Fortress Energy Price Performance

Shares of NASDAQ NFE traded down $0.72 during mid-day trading on Friday, reaching $34.43. 2,917,767 shares of the company were exchanged, compared to its average volume of 1,233,608. New Fortress Energy Inc. has a 52 week low of $25.06 and a 52 week high of $40.04. The company has a quick ratio of 0.40, a current ratio of 0.45 and a debt-to-equity ratio of 3.74. The stock has a market capitalization of $7.06 billion, a PE ratio of 12.99 and a beta of 1.54. The company’s 50 day moving average price is $34.10 and its 200 day moving average price is $33.35.

New Fortress Energy (NASDAQ:NFEGet Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. New Fortress Energy had a net margin of 22.70% and a return on equity of 37.65%. The company had revenue of $758.60 million during the quarter, compared to the consensus estimate of $647.54 million. During the same period in the previous year, the firm posted $0.87 EPS. The firm’s revenue was up 38.8% compared to the same quarter last year. Sell-side analysts forecast that New Fortress Energy Inc. will post 4.98 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 27th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, March 14th. New Fortress Energy’s dividend payout ratio is currently 15.09%.

Wall Street Analysts Forecast Growth

NFE has been the subject of several analyst reports. Capital One Financial began coverage on shares of New Fortress Energy in a report on Tuesday, December 19th. They issued an “equal weight” rating and a $45.00 price objective for the company. Stifel Nicolaus reduced their price objective on shares of New Fortress Energy from $49.00 to $45.00 and set a “buy” rating for the company in a research note on Friday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.86.

Read Our Latest Stock Analysis on NFE

New Fortress Energy Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for New Fortress Energy (NASDAQ:NFE)

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