New Fortress Energy (NASDAQ:NFE) Sees Unusually-High Trading Volume

New Fortress Energy Inc. (NASDAQ:NFE) saw strong trading volume on Wednesday . 7,973,498 shares changed hands during trading, an increase of 219% from the previous session’s volume of 2,497,892 shares.The stock last traded at $8.93 and had previously closed at $9.68.

Analyst Upgrades and Downgrades

NFE has been the topic of several research reports. Barclays decreased their target price on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a “sell” rating and issued a $7.60 target price (down previously from $21.00) on shares of New Fortress Energy in a research report on Tuesday. Stifel Nicolaus decreased their target price on 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, BTIG Research decreased 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, New Fortress Energy currently has an average rating of “Hold” and an average target price of $20.72.

New Fortress Energy Price Performance

The company has a debt-to-equity ratio of 4.38, a current ratio of 0.72 and a quick ratio of 0.63. The stock has a 50 day moving average price of $13.26 and a two-hundred day moving average price of $21.16. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 4.12 and a beta of 1.52.

New Fortress Energy (NASDAQ:NFE) last released 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). The company had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $465.52 million. New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. The company’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter last year, the business posted $0.58 earnings per share. As a group, analysts expect that New Fortress Energy Inc. will post 0.54 EPS for the current year.

New Fortress Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is 18.18%.

Institutional Trading of New Fortress Energy

A number of institutional investors have recently bought and sold shares of NFE. Primecap Management Co. CA lifted its holdings in shares of New Fortress Energy by 73.9% in the 2nd quarter. Primecap Management Co. CA now owns 8,026,130 shares of the company’s stock valued at $176,414,000 after purchasing an additional 3,410,630 shares during the last quarter. William Blair Investment Management LLC increased its position in New Fortress Energy by 31.0% in the 1st quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock valued at $272,748,000 after acquiring an additional 2,111,360 shares during the period. M&G Plc acquired a new position in New Fortress Energy in the 1st quarter valued at about $51,569,000. Capital World Investors increased its position in New Fortress Energy by 8.3% in 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 increased its position in New Fortress Energy by 83.6% in the 1st quarter. Kailix Advisors LLC now owns 1,969,453 shares of the company’s stock valued at $60,246,000 after acquiring an additional 896,671 shares during the period. 58.61% of the stock is owned by hedge funds and other institutional investors.

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.