Infrastructure Capital Advisors LLC Purchases 128,079 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Infrastructure Capital Advisors LLC increased its position in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 707.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 146,180 shares of the company’s stock after acquiring an additional 128,079 shares during the period. New Fortress Energy comprises about 0.5% of Infrastructure Capital Advisors LLC’s portfolio, making the stock its 24th biggest position. Infrastructure Capital Advisors LLC owned about 0.07% of New Fortress Energy worth $4,302,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NFE. XTX Topco Ltd acquired a new stake in shares of New Fortress Energy in the first quarter valued at about $384,000. Renaissance Technologies LLC increased its stake in shares of New Fortress Energy by 2,963.0% in the first quarter. Renaissance Technologies LLC now owns 248,100 shares of the company’s stock valued at $7,302,000 after buying an additional 240,000 shares during the period. Huber Capital Management LLC increased its stake in shares of New Fortress Energy by 101.1% in the first quarter. Huber Capital Management LLC now owns 413,958 shares of the company’s stock valued at $12,183,000 after buying an additional 208,083 shares during the period. Cresset Asset Management LLC acquired a new stake in shares of New Fortress Energy in the first quarter valued at about $212,000. Finally, Gabelli Funds LLC acquired a new stake in shares of New Fortress Energy in the first quarter valued at about $1,619,000. Institutional investors own 50.16% of the company’s stock.

New Fortress Energy Stock Up 0.4 %

Shares of NASDAQ:NFE opened at $31.50 on Friday. The business’s 50 day simple moving average is $28.81 and its two-hundred day simple moving average is $29.48. The firm has a market cap of $6.46 billion, a P/E ratio of 16.76, a PEG ratio of 0.30 and a beta of 1.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.28 and a current ratio of 0.35. New Fortress Energy Inc. has a 52-week low of $25.06 and a 52-week high of $60.33.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. The business had revenue of $561.35 million for the quarter, compared to analyst estimates of $573.60 million. New Fortress Energy had a return on equity of 35.70% and a net margin of 16.35%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 earnings per share. As a group, research analysts forecast that New Fortress Energy Inc. will post 3.73 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 13th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.40 annualized dividend and a yield of 1.27%. New Fortress Energy’s payout ratio is currently 21.28%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NFE shares. TheStreet raised New Fortress Energy from a “c” rating to a “b-” rating in a research note on Wednesday, August 9th. Morgan Stanley decreased their target price on New Fortress Energy from $48.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, August 9th. Bank of America cut New Fortress Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $59.00 to $31.00 in a research note on Thursday, June 8th. Finally, Barclays decreased their target price on New Fortress Energy from $34.00 to $32.00 and set an “equal weight” rating for the company in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.33.

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.