Alaska Permanent Fund Corp Decreases Stock Position in New Fortress Energy Inc. (NASDAQ:NFE)

Alaska Permanent Fund Corp cut its holdings in New Fortress Energy Inc. (NASDAQ:NFE) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,997 shares of the company’s stock after selling 1,803 shares during the quarter. Alaska Permanent Fund Corp’s holdings in New Fortress Energy were worth $2,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NFE. CWM LLC boosted its position in New Fortress Energy by 57.1% during the 3rd quarter. CWM LLC now owns 2,129 shares of the company’s stock valued at $70,000 after acquiring an additional 774 shares in the last quarter. IFP Advisors Inc bought a new stake in New Fortress Energy during the 3rd quarter valued at approximately $92,000. Exchange Traded Concepts LLC boosted its position in New Fortress Energy by 35.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 124,151 shares of the company’s stock valued at $4,070,000 after acquiring an additional 32,314 shares in the last quarter. Linden Thomas Advisory Services LLC bought a new stake in New Fortress Energy during the 3rd quarter valued at approximately $1,595,000. Finally, Commonwealth Equity Services LLC boosted its position in New Fortress Energy by 28.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 23,294 shares of the company’s stock valued at $764,000 after acquiring an additional 5,100 shares in the last quarter. 58.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NFE has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $35.00 price target (down from $40.00) on shares of New Fortress Energy in a research report on Monday, March 4th. Stifel Nicolaus dropped 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, New Fortress Energy has an average rating of “Hold” and an average target price of $39.29.

New Fortress Energy Stock Down 1.7 %

NASDAQ NFE traded down $0.47 during mid-day trading on Wednesday, reaching $27.60. The stock had a trading volume of 790,465 shares, compared to its average volume of 1,295,545. New Fortress Energy Inc. has a 1 year low of $25.06 and a 1 year high of $40.04. The stock has a market cap of $5.66 billion, a PE ratio of 10.59 and a beta of 1.53. The company has a fifty day moving average price of $30.79 and a 200 day moving average price of $33.31. 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 analysts’ consensus estimates of $0.93 by $0.08. The business had revenue of $758.60 million during the quarter, compared to analyst estimates of $647.54 million. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The company’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 EPS. On average, research analysts expect that New Fortress Energy Inc. will post 3.73 earnings per share for the current year.

New Fortress Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.45%. New Fortress Energy’s dividend payout ratio is presently 15.09%.

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.