Vontobel Holding Ltd. Purchases Shares of 56,165 New Fortress Energy Inc. (NASDAQ:NFE)

Vontobel Holding Ltd. acquired a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 56,165 shares of the company’s stock, valued at approximately $511,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American National Bank acquired a new position in New Fortress Energy in the second quarter valued at $26,000. Benjamin F. Edwards & Company Inc. raised its position in shares of New Fortress Energy by 563.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock worth $42,000 after acquiring an additional 1,178 shares in the last quarter. Quarry LP lifted its stake in shares of New Fortress Energy by 125.7% in the 2nd quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after purchasing an additional 1,253 shares during the period. ORG Partners LLC boosted its position in shares of New Fortress Energy by 987.8% during the 2nd quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock valued at $77,000 after purchasing an additional 3,408 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in New Fortress Energy during the first quarter worth approximately $95,000. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Stock Performance

Shares of NFE stock opened at $8.92 on Tuesday. New Fortress Energy Inc. has a 12 month low of $8.20 and a 12 month high of $40.04. The firm has a market capitalization of $1.83 billion, a PE ratio of 4.05 and a beta of 1.51. The firm has a fifty day simple moving average of $10.87 and a two-hundred day simple moving average of $19.11. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38.

New Fortress Energy (NASDAQ:NFE) last posted its 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). The business had revenue of $428.00 million during the quarter, compared to analyst estimates 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 was down 23.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. Analysts forecast that New Fortress Energy Inc. will post 0.41 EPS for the current fiscal year.

New Fortress Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 4.48%. New Fortress Energy’s dividend payout ratio (DPR) is currently 18.18%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NFE shares. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and issued a $7.60 price target (down from $21.00) on shares of New Fortress Energy in a research note on Tuesday, October 1st. Barclays dropped their target price on shares of 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. Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 12th. BTIG Research dropped their price objective on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Finally, Morgan Stanley downgraded New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $35.00 to $15.00 in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.77.

Insider Activity at New Fortress Energy

In other news, CEO Wesley R. Edens acquired 5,793,742 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were purchased at an average cost of $8.63 per share, with a total value of $49,999,993.46. Following the acquisition, the chief executive officer now directly owns 35,721,915 shares of the company’s stock, valued at $308,280,126.45. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 37.10% of the stock is currently owned by insiders.

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.