Nkcfo LLC Invests $377,000 in New Fortress Energy Inc. (NASDAQ:NFE)

Nkcfo LLC bought a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,000 shares of the company’s stock, valued at approximately $377,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. M&T Bank Corp raised its position in shares of New Fortress Energy by 67.9% during the 4th quarter. M&T Bank Corp now owns 13,941 shares of the company’s stock worth $526,000 after acquiring an additional 5,637 shares in the last quarter. New York Life Investment Management LLC increased its position in New Fortress Energy by 18.3% during the fourth quarter. New York Life Investment Management LLC now owns 9,397 shares of the company’s stock worth $355,000 after buying an additional 1,455 shares during the period. Victory Capital Management Inc. increased its position in New Fortress Energy by 21.5% during the fourth quarter. Victory Capital Management Inc. now owns 16,103 shares of the company’s stock worth $608,000 after buying an additional 2,848 shares during the period. O Brien Greene & Co. Inc increased its position in New Fortress Energy by 10.4% during the fourth quarter. O Brien Greene & Co. Inc now owns 15,015 shares of the company’s stock worth $567,000 after buying an additional 1,420 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its position in New Fortress Energy by 3.2% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 50,217 shares of the company’s stock worth $1,895,000 after buying an additional 1,560 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Stock Performance

Shares of NFE stock traded up $0.79 during midday trading on Friday, hitting $26.66. The company had a trading volume of 1,310,252 shares, compared to its average volume of 1,278,209. The company’s 50 day simple moving average is $29.93 and its 200 day simple moving average is $32.95. New Fortress Energy Inc. has a 52-week low of $25.06 and a 52-week high of $40.04. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 10.06 and a beta of 1.56. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.57 and a quick ratio of 0.51.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Thursday, February 29th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.08. New Fortress Energy had a return on equity of 36.16% and a net margin of 22.70%. The company had revenue of $758.60 million for the quarter, compared to the consensus estimate of $647.54 million. During the same period last year, the business posted $0.87 EPS. The company’s revenue was up 38.8% on a year-over-year basis. Research analysts anticipate that New Fortress Energy Inc. will post 2.97 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 15th were paid a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.50%. New Fortress Energy’s dividend payout ratio (DPR) is presently 15.09%.

Analysts Set New Price Targets

NFE has been the topic of several research analyst reports. Stifel Nicolaus cut their price target on New Fortress Energy from $49.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $35.00 price target (down previously from $40.00) on shares of New Fortress Energy in a research report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.29.

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.