Cwm LLC Sells 527 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Cwm LLC lessened its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 24.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,602 shares of the company’s stock after selling 527 shares during the period. Cwm LLC’s holdings in New Fortress Energy were worth $60,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp bought a new position in New Fortress Energy during the fourth quarter worth about $3,021,000. Citigroup Inc. lifted its holdings in shares of New Fortress Energy by 9.7% during the third quarter. Citigroup Inc. now owns 12,341 shares of the company’s stock valued at $405,000 after acquiring an additional 1,092 shares during the period. Vanguard Group Inc. grew its holdings in shares of New Fortress Energy by 41.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock worth $278,035,000 after purchasing an additional 2,482,627 shares during the last quarter. Callodine Capital Management LP increased its position in shares of New Fortress Energy by 40.5% during the 3rd 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 in the last quarter. Finally, Crestwood Advisors Group LLC bought a new position in New Fortress Energy during the 3rd quarter valued at about $1,147,000. 58.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NFE. Barclays decreased their price objective on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday. Stifel Nicolaus dropped their price target on New Fortress Energy from $49.00 to $45.00 and set a “buy” rating for the company in a report on Friday, March 1st. Finally, Deutsche Bank Aktiengesellschaft reissued 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, New Fortress Energy has a consensus rating of “Hold” and an average target price of $38.57.

New Fortress Energy Stock Up 1.4 %

NASDAQ:NFE opened at $26.49 on Thursday. The stock’s fifty day moving average price is $29.61 and its two-hundred day moving average price is $32.81. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 10.00 and a beta of 1.56. New Fortress Energy Inc. has a 52-week low of $25.06 and a 52-week high of $40.04. 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 (NASDAQ:NFE) last issued its quarterly earnings results on Thursday, February 29th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.08. The business had revenue of $758.60 million for the quarter, compared to analyst estimates of $647.54 million. New Fortress Energy had a return on equity of 36.16% and a net margin of 22.70%. The firm’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 earnings per share. On average, analysts anticipate that New Fortress Energy Inc. will post 2.97 EPS for the current year.

New Fortress Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 15th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Thursday, March 14th. New Fortress Energy’s dividend payout ratio (DPR) 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.