Gabelli Funds LLC Has $981,000 Stock Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Gabelli Funds LLC trimmed its position in New Fortress Energy Inc. (NASDAQ:NFEFree Report) by 51.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,000 shares of the company’s stock after selling 28,000 shares during the quarter. Gabelli Funds LLC’s holdings in New Fortress Energy were worth $981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Van ECK Associates Corp grew its holdings in New Fortress Energy by 15.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,623 shares of the company’s stock valued at $119,000 after buying an additional 482 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in New Fortress Energy during the fourth quarter worth $210,000. PNC Financial Services Group Inc. increased its position in New Fortress Energy by 5.0% during the third quarter. PNC Financial Services Group Inc. now owns 6,730 shares of the company’s stock worth $221,000 after acquiring an additional 319 shares during the period. Brasada Capital Management LP acquired a new position in New Fortress Energy during the 3rd quarter valued at $229,000. Finally, ELCO Management Co. LLC bought a new stake in New Fortress Energy in the 3rd quarter valued at $229,000. 58.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Barclays cut their price target on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on New Fortress Energy from $35.00 to $33.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $39.17.

Get Our Latest Research Report on New Fortress Energy

New Fortress Energy Stock Down 1.3 %

Shares of NFE opened at $22.97 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 3.74. The company has a 50-day moving average price of $26.84 and a two-hundred day moving average price of $31.64. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 10.44 and a beta of 1.51. New Fortress Energy Inc. has a 12 month low of $22.83 and a 12 month high of $40.04.

New Fortress Energy (NASDAQ:NFEGet Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The business had revenue of $690.30 million during the quarter, compared to the consensus estimate of $602.41 million. During the same quarter last year, the company earned $0.90 EPS. New Fortress Energy’s revenue was up 19.2% on a year-over-year basis. Equities analysts predict that New Fortress Energy Inc. will post 2.07 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Saturday, June 15th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Friday, June 14th. New Fortress Energy’s payout ratio is 18.18%.

About New Fortress Energy

(Free Report)

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.

Read More

Institutional Ownership by Quarter for New Fortress Energy (NASDAQ:NFE)

Receive News & Ratings for New Fortress Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Fortress Energy and related companies with MarketBeat.com's FREE daily email newsletter.