Jennison Associates LLC Has $12.80 Million Position in New Fortress Energy Inc. (NASDAQ:NFE)

Jennison Associates LLC cut its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,230 shares of the company’s stock after selling 1,980 shares during the period. Jennison Associates LLC owned approximately 0.17% of New Fortress Energy worth $12,799,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. CWM LLC increased its stake in New Fortress Energy by 57.1% in the third quarter. CWM LLC now owns 2,129 shares of the company’s stock valued at $70,000 after acquiring an additional 774 shares during the last quarter. IFP Advisors Inc acquired a new position in New Fortress Energy during the third quarter worth about $92,000. Linden Thomas Advisory Services LLC bought a new position in shares of New Fortress Energy in the third quarter worth about $1,595,000. Commonwealth Equity Services LLC boosted its stake in shares of New Fortress Energy by 28.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 23,294 shares of the company’s stock valued at $764,000 after purchasing an additional 5,100 shares in the last quarter. Finally, Xponance Inc. grew its holdings in shares of New Fortress Energy by 13.8% during the 3rd quarter. Xponance Inc. now owns 8,841 shares of the company’s stock valued at $290,000 after purchasing an additional 1,070 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Stock Down 1.3 %

Shares of NASDAQ:NFE opened at $27.24 on Friday. New Fortress Energy Inc. has a 1 year low of $25.06 and a 1 year high of $40.04. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.57 and a quick ratio of 0.51. The business’s 50-day moving average is $30.62 and its 200-day moving average is $33.23. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 10.28 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Thursday, February 29th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.93 by $0.08. The company had revenue of $758.60 million during the quarter, compared to the consensus estimate of $647.54 million. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The company’s quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 EPS. Equities research analysts predict that New Fortress Energy Inc. will post 3.73 earnings per share for the current year.

New Fortress Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 15th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Thursday, March 14th. New Fortress Energy’s payout ratio is 15.09%.

Analyst Upgrades and Downgrades

NFE has been the topic of a number of research reports. Stifel Nicolaus decreased their target price on shares of New Fortress Energy from $49.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $35.00 target price (down previously from $40.00) on shares of New Fortress Energy in a report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.29.

New Fortress Energy 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.