New Fortress Energy Inc. (NASDAQ:NFE) Shares Acquired by Symmetry Investments LP

Symmetry Investments LP increased its position in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 174.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,089 shares of the company’s stock after purchasing an additional 61,656 shares during the period. Symmetry Investments LP’s holdings in New Fortress Energy were worth $2,134,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NFE. Primecap Management Co. CA grew its stake in shares of New Fortress Energy by 73.9% during the 2nd quarter. Primecap Management Co. CA now owns 8,026,130 shares of the company’s stock worth $176,414,000 after purchasing an additional 3,410,630 shares during the period. William Blair Investment Management LLC grew its position in 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 purchased a new position in New Fortress Energy in the first quarter valued at about $51,569,000. Capital World Investors lifted its position in shares of New Fortress Energy by 8.3% during the 4th quarter. Capital World Investors now owns 14,964,622 shares of the company’s stock valued at $564,615,000 after acquiring an additional 1,152,125 shares during the period. Finally, Kailix Advisors LLC boosted its stake in shares of New Fortress Energy by 83.6% during the 1st quarter. Kailix Advisors LLC now owns 1,969,453 shares of the company’s stock worth $60,246,000 after acquiring an additional 896,671 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

Analysts Set New Price Targets

NFE has been the subject of several research analyst reports. Barclays dropped their price objective on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. BTIG Research dropped their price target on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Stifel Nicolaus decreased their price objective on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, 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 note on Monday, August 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.40.

New Fortress Energy Stock Performance

New Fortress Energy stock opened at $9.49 on Friday. New Fortress Energy Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $40.04. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 4.31 and a beta of 1.53. The stock has a fifty day moving average of $15.22 and a two-hundred day moving average of $22.44. The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.63 and a current ratio of 0.72.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). The company had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $465.52 million. New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The company’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.58 EPS. On average, analysts anticipate that New Fortress Energy Inc. will post 0.58 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

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

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.