Maryland State Retirement & Pension System Raises Position in New Fortress Energy Inc. (NASDAQ:NFE)

Maryland State Retirement & Pension System raised its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,877 shares of the company’s stock after purchasing an additional 736 shares during the quarter. Maryland State Retirement & Pension System’s holdings in New Fortress Energy were worth $2,221,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nkcfo LLC purchased a new stake in shares of New Fortress Energy in the fourth quarter worth approximately $377,000. M&T Bank Corp raised its stake in shares of New Fortress Energy by 67.9% in the fourth quarter. M&T Bank Corp now owns 13,941 shares of the company’s stock worth $526,000 after purchasing an additional 5,637 shares during the last quarter. New York Life Investment Management LLC raised its stake in shares of New Fortress Energy by 18.3% in the fourth quarter. New York Life Investment Management LLC now owns 9,397 shares of the company’s stock worth $355,000 after purchasing an additional 1,455 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of New Fortress Energy by 21.5% in the fourth quarter. Victory Capital Management Inc. now owns 16,103 shares of the company’s stock valued at $608,000 after acquiring an additional 2,848 shares in the last quarter. Finally, O Brien Greene & Co. Inc grew its holdings in shares of New Fortress Energy by 10.4% in the fourth quarter. O Brien Greene & Co. Inc now owns 15,015 shares of the company’s stock valued at $567,000 after acquiring an additional 1,420 shares in the last quarter. 58.61% of the stock is owned by hedge funds and other institutional investors.

New Fortress Energy Stock Performance

Shares of New Fortress Energy stock traded up $0.96 during trading hours on Wednesday, reaching $27.08. The company had a trading volume of 980,653 shares, compared to its average volume of 1,326,372. New Fortress Energy Inc. has a one year low of $25.06 and a one year high of $40.04. The business has a fifty day simple moving average of $29.72 and a 200 day simple moving average of $32.86. 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 firm has a market cap of $5.55 billion, a PE ratio of 9.86 and a beta of 1.56.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings results on Thursday, February 29th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. New Fortress Energy had a return on equity of 36.16% and a net margin of 22.70%. The firm had revenue of $758.60 million during the quarter, compared to analyst estimates of $647.54 million. During the same period last year, the company earned $0.87 earnings per share. The business’s revenue for the quarter was up 38.8% on a year-over-year basis. On average, analysts anticipate that New Fortress Energy Inc. will post 2.97 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 15th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Thursday, March 14th. New Fortress Energy’s payout ratio is currently 15.09%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Stifel Nicolaus reduced their target price 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $35.00 target price (down from $40.00) on shares of New Fortress Energy in a report on Monday, March 4th. Finally, Barclays reduced their target price on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $38.57.

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.