New Fortress Energy Inc. (NASDAQ:NFE) Shares Purchased by Huber Capital Management LLC

Huber Capital Management LLC grew its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 52.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 406,377 shares of the company’s stock after acquiring an additional 139,711 shares during the period. New Fortress Energy comprises about 2.0% of Huber Capital Management LLC’s portfolio, making the stock its 13th largest holding. Huber Capital Management LLC owned 0.20% of New Fortress Energy worth $8,932,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sei Investments Co. boosted its position in shares of New Fortress Energy by 167.2% in the second quarter. Sei Investments Co. now owns 127,962 shares of the company’s stock worth $2,813,000 after buying an additional 80,075 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in New Fortress Energy by 118.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,031 shares of the company’s stock worth $67,000 after acquiring an additional 1,644 shares during the period. Blair William & Co. IL grew its stake in New Fortress Energy by 4.5% during the 2nd quarter. Blair William & Co. IL now owns 45,256 shares of the company’s stock valued at $995,000 after acquiring an additional 1,966 shares in the last quarter. Amalgamated Bank increased its holdings in shares of New Fortress Energy by 50.8% in the 2nd quarter. Amalgamated Bank now owns 11,929 shares of the company’s stock valued at $262,000 after purchasing an additional 4,021 shares during the period. Finally, Lumbard & Kellner LLC lifted its position in shares of New Fortress Energy by 31.3% in the second quarter. Lumbard & Kellner LLC now owns 224,820 shares of the company’s stock worth $4,942,000 after purchasing an additional 53,533 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Stock Performance

NFE opened at $9.49 on Friday. The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.63 and a current ratio of 0.72. The company has a market cap of $1.95 billion, a PE ratio of 4.31 and a beta of 1.53. The stock has a 50-day moving average of $15.22 and a 200-day moving average of $22.44. New Fortress Energy Inc. has a 52-week low of $9.39 and a 52-week high of $40.04.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.50). New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. The company had revenue of $428.00 million for the quarter, compared to analyst estimates of $465.52 million. During the same quarter last year, the business earned $0.58 EPS. The company’s revenue for the quarter was down 23.7% on a year-over-year basis. As a group, equities research analysts forecast that New Fortress Energy Inc. will post 0.58 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is 18.18%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of New Fortress Energy from $26.00 to $21.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Stifel Nicolaus reduced their price objective on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, August 12th. BTIG Research dropped their target price on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Finally, Barclays reduced their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, New Fortress Energy currently has a consensus rating of “Hold” and a consensus price target of $23.40.

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.