New Fortress Energy Inc. (NASDAQ:NFE) Shares Sold by Kailix Advisors LLC

Kailix Advisors LLC lessened its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 11.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,072,782 shares of the company’s stock after selling 139,471 shares during the quarter. New Fortress Energy makes up approximately 22.7% of Kailix Advisors LLC’s investment portfolio, making the stock its 3rd largest position. Kailix Advisors LLC’s holdings in New Fortress Energy were worth $40,476,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Mackenzie Financial Corp bought a new stake in shares of New Fortress Energy during the 4th quarter worth about $3,021,000. Citigroup Inc. boosted its holdings in shares of New Fortress Energy by 9.7% during the 3rd quarter. Citigroup Inc. now owns 12,341 shares of the company’s stock worth $405,000 after buying an additional 1,092 shares during the period. Vanguard Group Inc. boosted its holdings in shares of New Fortress Energy by 41.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock worth $278,035,000 after buying an additional 2,482,627 shares during the period. Callodine Capital Management LP boosted its holdings in shares of New Fortress Energy by 40.5% during the 3rd quarter. Callodine Capital Management LP now owns 316,120 shares of the company’s stock worth $10,362,000 after buying an additional 91,120 shares during the period. Finally, Crestwood Advisors Group LLC bought a new stake in shares of New Fortress Energy during the 3rd quarter worth about $1,147,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Stifel Nicolaus reduced their target price on shares of New Fortress Energy from $49.00 to $45.00 and set a “buy” rating for the company in a report on Friday, March 1st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $35.00 price objective (down previously from $40.00) on shares of New Fortress Energy in a report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $39.29.

New Fortress Energy Stock Performance

NASDAQ NFE traded down $0.13 during trading on Friday, reaching $27.11. The company’s stock had a trading volume of 1,278,180 shares, compared to its average volume of 1,074,357. The firm has a 50 day moving average price of $30.51 and a 200 day moving average price of $33.20. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 10.23 and a beta of 1.53. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 3.66. New Fortress Energy Inc. has a 12 month low of $25.06 and a 12 month high of $40.04.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Thursday, February 29th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.93 by $0.08. The company had revenue of $758.60 million during the quarter, compared to analysts’ expectations of $647.54 million. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The business’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 EPS. As a group, equities analysts anticipate that New Fortress Energy Inc. will post 3.73 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 15th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Thursday, March 14th. New Fortress Energy’s payout ratio is presently 15.09%.

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.