New Fortress Energy Inc. (NASDAQ:NFE) Shares Acquired by X Square Capital LLC

X Square Capital LLC lifted its holdings in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 34.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 184,746 shares of the company’s stock after buying an additional 47,350 shares during the period. X Square Capital LLC’s holdings in New Fortress Energy were worth $1,679,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NFE. Primecap Management Co. CA boosted its stake in shares of New Fortress Energy by 73.9% during the second quarter. Primecap Management Co. CA now owns 8,026,130 shares of the company’s stock worth $176,414,000 after buying an additional 3,410,630 shares during the period. William Blair Investment Management LLC boosted its stake in shares of New Fortress Energy by 31.0% during the first quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock worth $272,748,000 after buying an additional 2,111,360 shares during the period. M&G Plc acquired a new stake in shares of New Fortress Energy during the first quarter worth about $51,569,000. HITE Hedge Asset Management LLC boosted its stake in shares of New Fortress Energy by 24.1% during the second quarter. HITE Hedge Asset Management LLC now owns 3,192,129 shares of the company’s stock worth $70,163,000 after buying an additional 619,621 shares during the period. Finally, Encompass Capital Advisors LLC boosted its stake in shares of New Fortress Energy by 9.0% during the second quarter. Encompass Capital Advisors LLC now owns 4,797,308 shares of the company’s stock worth $105,445,000 after buying an additional 395,740 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Trading Down 3.0 %

Shares of New Fortress Energy stock opened at $8.32 on Thursday. New Fortress Energy Inc. has a 12-month low of $8.20 and a 12-month high of $40.04. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38. The stock has a market cap of $1.71 billion, a PE ratio of 3.78 and a beta of 1.51. The company has a 50-day moving average of $10.66 and a two-hundred day moving average of $18.88.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $465.52 million. During the same period last year, the business posted $0.58 earnings per share. The company’s quarterly revenue was down 23.7% on a year-over-year basis. On average, research analysts anticipate that New Fortress Energy Inc. will post 0.41 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 4.81%. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.

Insider Buying and Selling at New Fortress Energy

In related news, CEO Wesley R. Edens bought 5,793,742 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was bought at an average cost of $8.63 per share, with a total value of $49,999,993.46. Following the completion of the acquisition, the chief executive officer now owns 35,721,915 shares in the company, valued at approximately $308,280,126.45. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 37.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NFE has been the subject of several recent research reports. Morgan Stanley downgraded shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $35.00 to $15.00 in a research note on Thursday, October 3rd. Stifel Nicolaus cut their price target on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 12th. Barclays cut their price target on shares of 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. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and set a $7.60 price target (down from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st. Finally, BTIG Research cut their price target on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, New Fortress Energy presently has a consensus rating of “Hold” and an average target price of $19.77.

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.