New Fortress Energy Inc. (NASDAQ:NFE) Declares $0.10 Quarterly Dividend

New Fortress Energy Inc. (NASDAQ:NFEGet Rating) announced a quarterly dividend on Wednesday, May 4th, Zacks reports. Stockholders of record on Tuesday, June 14th will be given a dividend of 0.10 per share on Tuesday, June 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, June 13th.

New Fortress Energy has a dividend payout ratio of -38.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect New Fortress Energy to earn $5.53 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 7.2%.

New Fortress Energy stock opened at $45.65 on Friday. New Fortress Energy has a 52-week low of $19.17 and a 52-week high of $49.30. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 106.16 and a beta of 1.55. The company has a fifty day simple moving average of $38.07 and a 200-day simple moving average of $29.74. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.88.

New Fortress Energy (NASDAQ:NFEGet Rating) last released its earnings results on Thursday, May 5th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.76. The business had revenue of $505.10 million during the quarter, compared to analyst estimates of $505.85 million. New Fortress Energy had a net margin of 7.34% and a return on equity of 13.51%. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. On average, research analysts anticipate that New Fortress Energy will post 1.99 EPS for the current fiscal year.

In other New Fortress Energy news, major shareholder Nfe Smrs Holdings Llc sold 300,000 shares of the business’s stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of $45.28, for a total transaction of $13,584,000.00. Following the sale, the insider now directly owns 32,459,846 shares in the company, valued at $1,469,781,826.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 980,057 shares of company stock worth $43,183,972 in the last ninety days. 48.80% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Neo Ivy Capital Management purchased a new stake in New Fortress Energy during the fourth quarter worth about $65,000. Castleark Management LLC increased its stake in shares of New Fortress Energy by 80.0% during the fourth quarter. Castleark Management LLC now owns 2,925 shares of the company’s stock worth $71,000 after buying an additional 1,300 shares during the period. Wells Fargo & Company MN increased its stake in shares of New Fortress Energy by 100.8% during the fourth quarter. Wells Fargo & Company MN now owns 12,874 shares of the company’s stock worth $311,000 after buying an additional 6,464 shares during the period. Millennium Management LLC increased its stake in shares of New Fortress Energy by 25.4% during the third quarter. Millennium Management LLC now owns 17,955 shares of the company’s stock worth $498,000 after buying an additional 3,641 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of New Fortress Energy by 1,877,800.0% during the fourth quarter. JPMorgan Chase & Co. now owns 18,779 shares of the company’s stock worth $453,000 after buying an additional 18,778 shares during the period. Institutional investors own 49.35% of the company’s stock.

Several research analysts have recently weighed in on NFE shares. Credit Suisse Group boosted their price target on shares of New Fortress Energy from $40.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, April 7th. Zacks Investment Research raised shares of New Fortress Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, March 4th. Barclays lowered their price target on shares of New Fortress Energy from $32.00 to $29.00 in a research report on Thursday, January 20th. Stifel Nicolaus boosted their price target on shares of New Fortress Energy from $45.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, April 4th. Finally, Morgan Stanley decreased their target price on shares of New Fortress Energy from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 16th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, New Fortress Energy currently has a consensus rating of “Buy” and an average price target of $49.40.

New Fortress Energy Company Profile (Get Rating)

New Fortress Energy Inc operates as an integrated gas-to-power 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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Dividend History for New Fortress Energy (NASDAQ:NFE)

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