Mackenzie Financial Corp Takes Position in New Fortress Energy Inc. (NASDAQ:NFE)

Mackenzie Financial Corp purchased a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 80,077 shares of the company’s stock, valued at approximately $3,021,000.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC increased its holdings in shares of New Fortress Energy by 57.1% during the third quarter. CWM LLC now owns 2,129 shares of the company’s stock worth $70,000 after buying an additional 774 shares in the last quarter. IFP Advisors Inc acquired a new position in New Fortress Energy in the 3rd quarter worth about $92,000. Van ECK Associates Corp raised its position in New Fortress Energy by 15.3% in the third quarter. Van ECK Associates Corp now owns 3,623 shares of the company’s stock valued at $119,000 after purchasing an additional 482 shares during the last quarter. ORG Partners LLC boosted its stake in shares of New Fortress Energy by 14.3% during the third quarter. ORG Partners LLC now owns 4,206 shares of the company’s stock valued at $138,000 after purchasing an additional 526 shares in the last quarter. Finally, Castleview Partners LLC grew its holdings in shares of New Fortress Energy by 39.6% during the third quarter. Castleview Partners LLC now owns 5,148 shares of the company’s stock worth $169,000 after purchasing an additional 1,459 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Stock Performance

NASDAQ:NFE opened at $28.14 on Tuesday. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.51 and a current ratio of 0.57. New Fortress Energy Inc. has a fifty-two week low of $25.06 and a fifty-two week high of $40.04. The company has a 50 day simple moving average of $30.86 and a two-hundred day simple moving average of $33.33. The company has a market capitalization of $5.77 billion, a PE ratio of 10.62 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Thursday, February 29th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.08. The company had revenue of $758.60 million during the quarter, compared to analysts’ expectations of $647.54 million. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. New Fortress Energy’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.87 earnings per share. Research analysts anticipate that New Fortress Energy Inc. will post 3.73 earnings per share for the current year.

New Fortress Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 15th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, March 14th. New Fortress Energy’s dividend payout ratio (DPR) is presently 15.09%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of New Fortress Energy from $49.00 to $45.00 and set a “buy” rating for the company in a 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 note on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $39.29.

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.