Signaturefd LLC Buys 3,314 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Signaturefd LLC boosted its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 409.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,124 shares of the company’s stock after purchasing an additional 3,314 shares during the quarter. Signaturefd LLC’s holdings in New Fortress Energy were worth $37,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vontobel Holding Ltd. purchased a new position in shares of New Fortress Energy during the 3rd quarter valued at $511,000. Capstone Investment Advisors LLC purchased a new position in New Fortress Energy during the first quarter worth about $468,000. M&G Plc increased its stake in New Fortress Energy by 52.6% in the 2nd quarter. M&G Plc now owns 2,537,712 shares of the company’s stock worth $55,830,000 after acquiring an additional 874,210 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of New Fortress Energy in the 2nd quarter valued at about $2,855,000. Finally, Janus Henderson Group PLC boosted its position in shares of New Fortress Energy by 187.5% during the 1st quarter. Janus Henderson Group PLC now owns 88,668 shares of the company’s stock valued at $2,712,000 after acquiring an additional 57,823 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Wall Street Analysts Forecast Growth

NFE has been the topic of several research analyst reports. 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. Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $35.00 to $15.00 in a research report on Thursday, October 3rd. Barclays dropped their price objective on shares of 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. BTIG Research reduced their target price on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and set a $7.60 price target (down previously from $21.00) on shares of New Fortress Energy in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, New Fortress Energy has a consensus rating of “Hold” and a consensus target price of $19.77.

Insider Activity

In related news, CEO Wesley R. Edens purchased 5,793,742 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were acquired at an average price of $8.63 per share, for a total transaction of $49,999,993.46. Following the completion of the acquisition, the chief executive officer now directly owns 35,721,915 shares in the company, valued at approximately $308,280,126.45. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 37.10% of the company’s stock.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE opened at $8.65 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.72 and a debt-to-equity ratio of 4.38. The stock has a market cap of $1.77 billion, a PE ratio of 7.33 and a beta of 1.51. The company’s fifty day moving average is $10.31 and its 200 day moving average is $18.23. New Fortress Energy Inc. has a 52 week low of $8.20 and a 52 week high of $40.04.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data 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). New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. The company had revenue of $428.00 million for the quarter, compared to the consensus estimate of $465.52 million. During the same period last year, the business posted $0.58 earnings per share. The firm’s quarterly revenue was down 23.7% compared to the same quarter last year. Research analysts anticipate that New Fortress Energy Inc. will post 0.52 earnings per share for the current year.

New Fortress Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend was Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is presently 33.90%.

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.