Quest Partners LLC Has $251,000 Stock Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Quest Partners LLC lifted its holdings in New Fortress Energy Inc. (NASDAQ:NFE) by 16.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,428 shares of the company’s stock after purchasing an additional 1,626 shares during the quarter. Quest Partners LLC’s holdings in New Fortress Energy were worth $251,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. boosted its position in New Fortress Energy by 21.5% during the 4th quarter. Victory Capital Management Inc. now owns 16,103 shares of the company’s stock worth $608,000 after acquiring an additional 2,848 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in New Fortress Energy by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 408,137 shares of the company’s stock worth $15,399,000 after acquiring an additional 16,172 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in New Fortress Energy by 21.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,024,178 shares of the company’s stock worth $38,647,000 after acquiring an additional 179,293 shares during the last quarter. Norges Bank acquired a new position in New Fortress Energy during the 4th quarter worth approximately $23,657,000. Finally, Franklin Resources Inc. boosted its position in New Fortress Energy by 5.2% during the 4th quarter. Franklin Resources Inc. now owns 137,995 shares of the company’s stock worth $5,207,000 after acquiring an additional 6,871 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Stock Up 8.8 %

NFE opened at $11.77 on Friday. New Fortress Energy Inc. has a 1-year low of $9.44 and a 1-year high of $40.04. The stock’s fifty day simple moving average is $16.14 and its 200 day simple moving average is $23.15. 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 $2.41 billion, a PE ratio of 5.35 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.41) earnings per share 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 business had revenue of $428.00 million during the quarter, compared to the consensus estimate of $465.52 million. During the same quarter last year, the company posted $0.58 EPS. The firm’s revenue was down 23.7% on a year-over-year basis. As a group, research analysts expect that New Fortress Energy Inc. will post 0.58 earnings per share for the current year.

New Fortress Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NFE. BTIG Research cut their price objective on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday. Stifel Nicolaus cut their price objective on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft cut their price objective on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a report on Monday, August 12th. Finally, Barclays cut their price objective on 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.40.

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.