Primecap Management Co. CA Raises Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Primecap Management Co. CA boosted its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 553.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,438,300 shares of the company’s stock after buying an additional 2,911,800 shares during the quarter. Primecap Management Co. CA owned approximately 1.68% of New Fortress Energy worth $129,727,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of NFE. PNC Financial Services Group Inc. boosted its holdings in shares of New Fortress Energy by 5.0% during the third quarter. PNC Financial Services Group Inc. now owns 6,730 shares of the company’s stock worth $221,000 after purchasing an additional 319 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in New Fortress Energy by 2.8% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,137 shares of the company’s stock valued at $463,000 after buying an additional 384 shares during the period. Van ECK Associates Corp grew its holdings in New Fortress Energy by 15.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,623 shares of the company’s stock valued at $119,000 after buying an additional 482 shares during the period. Hohimer Wealth Management LLC increased its stake in shares of New Fortress Energy by 1.3% during the 3rd quarter. Hohimer Wealth Management LLC now owns 46,651 shares of the company’s stock valued at $1,529,000 after acquiring an additional 589 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of New Fortress Energy by 5.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,081 shares of the company’s stock worth $531,000 after acquiring an additional 716 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Stock Down 0.5 %

NFE stock traded down $0.12 during mid-day trading on Friday, hitting $25.13. 2,496,801 shares of the company were exchanged, compared to its average volume of 1,936,213. The company has a market capitalization of $5.15 billion, a PE ratio of 11.42 and a beta of 1.55. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 3.74. New Fortress Energy Inc. has a twelve month low of $24.79 and a twelve month high of $40.04. The firm has a fifty day simple moving average of $28.13 and a 200 day simple moving average of $32.47.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. The company had revenue of $690.30 million during the quarter, compared to analyst estimates of $602.41 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS. On average, research analysts forecast that New Fortress Energy Inc. will post 2.07 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Saturday, June 15th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, June 14th. New Fortress Energy’s dividend payout ratio is currently 18.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NFE shares. Barclays lowered their target price on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, May 6th. Stifel Nicolaus lowered their price objective on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on New Fortress Energy from $35.00 to $33.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $38.00.

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.