Raymond James & Associates Decreases Stock Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Raymond James & Associates lowered its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 27.3% during the 4th quarter, HoldingsChannel reports. The firm owned 20,444 shares of the company’s stock after selling 7,666 shares during the period. Raymond James & Associates’ holdings in New Fortress Energy were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NFE. Citigroup Inc. lifted its holdings in shares of New Fortress Energy by 9.7% during the 3rd quarter. Citigroup Inc. now owns 12,341 shares of the company’s stock valued at $405,000 after buying an additional 1,092 shares during the period. Vanguard Group Inc. lifted its holdings in New Fortress Energy by 41.4% in the third quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock valued at $278,035,000 after acquiring an additional 2,482,627 shares during the period. Callodine Capital Management LP boosted its position in New Fortress Energy by 40.5% in the third quarter. Callodine Capital Management LP now owns 316,120 shares of the company’s stock worth $10,362,000 after purchasing an additional 91,120 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in New Fortress Energy in the third quarter worth about $1,147,000. Finally, Barclays PLC grew its stake in shares of New Fortress Energy by 47.3% during the 3rd quarter. Barclays PLC now owns 733,917 shares of the company’s stock valued at $24,058,000 after purchasing an additional 235,807 shares during the period. Institutional investors own 58.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities 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 on the stock in a report on Friday, March 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $35.00 price objective (down previously from $40.00) on shares of New Fortress Energy in a research note on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.29.

New Fortress Energy Stock Performance

NASDAQ NFE opened at $28.07 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 3.66. New Fortress Energy Inc. has a twelve month low of $25.06 and a twelve month high of $40.04. The business has a 50-day moving average price of $30.79 and a 200-day moving average price of $33.31. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 10.59 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings results on Thursday, February 29th. The company reported $1.01 EPS for the quarter, topping 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 company had revenue of $758.60 million for the quarter, compared to analysts’ expectations of $647.54 million. During the same period in the previous year, the firm earned $0.87 EPS. The firm’s revenue was up 38.8% compared to the same quarter last year. As a group, equities research analysts predict that New Fortress Energy Inc. will post 3.73 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 15th were given 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 dividend yield of 1.43%. New Fortress Energy’s dividend payout ratio is 15.09%.

About New Fortress Energy

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.