New Fortress Energy Inc. (NASDAQ:NFE) Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 1.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,877 shares of the company’s stock after acquiring an additional 736 shares during the quarter. Maryland State Retirement & Pension System’s holdings in New Fortress Energy were worth $2,221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nkcfo LLC acquired a new position in shares of New Fortress Energy in the 4th quarter valued at $377,000. M&T Bank Corp boosted its position in shares of New Fortress Energy by 67.9% in the 4th quarter. M&T Bank Corp now owns 13,941 shares of the company’s stock valued at $526,000 after purchasing an additional 5,637 shares during the period. New York Life Investment Management LLC boosted its position in shares of New Fortress Energy by 18.3% in the 4th quarter. New York Life Investment Management LLC now owns 9,397 shares of the company’s stock valued at $355,000 after purchasing an additional 1,455 shares during the period. Victory Capital Management Inc. boosted its position in shares of New Fortress Energy by 21.5% in the 4th quarter. Victory Capital Management Inc. now owns 16,103 shares of the company’s stock valued at $608,000 after purchasing an additional 2,848 shares during the period. Finally, O Brien Greene & Co. Inc boosted its position in New Fortress Energy by 10.4% during the 4th quarter. O Brien Greene & Co. Inc now owns 15,015 shares of the company’s stock worth $567,000 after acquiring an additional 1,420 shares during the period. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Stock Performance

Shares of NFE stock traded up $0.96 during trading on Wednesday, reaching $27.08. The company had a trading volume of 980,653 shares, compared to its average volume of 1,326,372. The firm’s 50 day simple moving average is $29.72 and its two-hundred day simple moving average is $32.86. 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 Inc. has a one year low of $25.06 and a one year high of $40.04. The company has a market capitalization of $5.55 billion, a PE ratio of 9.86 and a beta of 1.56.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Thursday, February 29th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 business 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 earned $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 2.97 earnings per share for the current year.

New Fortress Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Thursday, March 14th. New Fortress Energy’s payout ratio is 15.09%.

Analysts Set New Price Targets

A number of brokerages have commented on NFE. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $35.00 price objective (down from $40.00) on shares of New Fortress Energy in a research report on Monday, March 4th. Barclays reduced their price target on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Stifel Nicolaus reduced their price target on New Fortress Energy from $49.00 to $45.00 and set a “buy” rating for the company in a report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, New Fortress Energy presently has an average rating of “Hold” and an average target price of $38.57.

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.