Nkcfo LLC Makes New $377,000 Investment in New Fortress Energy Inc. (NASDAQ:NFE)

Nkcfo LLC bought a new position in New Fortress Energy Inc. (NASDAQ:NFE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the company’s stock, valued at approximately $377,000.

A number of other large investors have also added to or reduced their stakes in NFE. M&T Bank Corp increased its holdings in shares of New Fortress Energy by 67.9% during the fourth quarter. M&T Bank Corp now owns 13,941 shares of the company’s stock valued at $526,000 after acquiring an additional 5,637 shares in the last quarter. New York Life Investment Management LLC increased its holdings in shares of New Fortress Energy by 18.3% during the fourth quarter. New York Life Investment Management LLC now owns 9,397 shares of the company’s stock valued at $355,000 after acquiring an additional 1,455 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of New Fortress Energy by 21.5% during the fourth quarter. Victory Capital Management Inc. now owns 16,103 shares of the company’s stock valued at $608,000 after acquiring an additional 2,848 shares in the last quarter. O Brien Greene & Co. Inc increased its holdings in shares of New Fortress Energy by 10.4% during the fourth quarter. O Brien Greene & Co. Inc now owns 15,015 shares of the company’s stock valued at $567,000 after acquiring an additional 1,420 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC increased its holdings in shares of New Fortress Energy by 3.2% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 50,217 shares of the company’s stock valued at $1,895,000 after acquiring an additional 1,560 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Stock Performance

New Fortress Energy stock traded up $0.79 during mid-day trading on Friday, hitting $26.66. The company had a trading volume of 1,310,252 shares, compared to its average volume of 1,278,209. 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. The company’s fifty day moving average is $29.93 and its 200-day moving average is $32.95. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 10.06 and a beta of 1.56.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings data on Thursday, February 29th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.93 by $0.08. New Fortress Energy had a return on equity of 36.16% and a net margin of 22.70%. The business had revenue of $758.60 million for the quarter, compared to analyst estimates of $647.54 million. During the same quarter in the prior year, the firm posted $0.87 EPS. The business’s quarterly revenue was up 38.8% compared to the same quarter last year. Equities research analysts predict that New Fortress Energy Inc. will post 2.97 EPS for the current year.

New Fortress Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were given a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 annualized dividend and a yield of 1.50%. New Fortress Energy’s dividend payout ratio is presently 15.09%.

Analyst Upgrades and Downgrades

NFE has been the topic of several recent analyst reports. Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $49.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $35.00 target price (down previously from $40.00) on shares of New Fortress Energy in a research report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.29.

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.