Federated Hermes Inc. Trims Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Federated Hermes Inc. trimmed its holdings in New Fortress Energy Inc. (NASDAQ:NFE) by 5.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,182,200 shares of the company’s stock after selling 217,800 shares during the quarter. Federated Hermes Inc.’s holdings in New Fortress Energy were worth $91,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. American National Bank bought a new position in shares of New Fortress Energy during the second quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. grew its stake 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 buying an additional 1,178 shares during the last quarter. ORG Partners LLC grew its stake in shares of New Fortress Energy by 987.8% in the 2nd quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock worth $77,000 after buying an additional 3,408 shares during the last quarter. Meeder Asset Management Inc. bought a new position in New Fortress Energy during the 1st quarter valued at approximately $95,000. Finally, Kapitalo Investimentos Ltda purchased a new position in New Fortress Energy during the fourth quarter valued at $119,000. 58.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NFE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a report on Monday, August 12th. Stifel Nicolaus reduced their price objective on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, 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 note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $29.00.

New Fortress Energy Trading Up 2.1 %

Shares of NASDAQ:NFE opened at $10.91 on Friday. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.72 and a quick ratio of 0.63. New Fortress Energy Inc. has a 1 year low of $9.44 and a 1 year high of $40.04. The company has a market cap of $2.24 billion, a P/E ratio of 4.96 and a beta of 1.53. The stock’s fifty day moving average price is $16.31 and its 200-day moving average price is $23.35.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.50). The company had revenue of $428.00 million for the quarter, compared to the consensus estimate of $465.52 million. New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. New Fortress Energy’s revenue was down 23.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 EPS. Sell-side analysts expect that New Fortress Energy Inc. will post 0.58 earnings per share for the current year.

New Fortress Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.67%. The ex-dividend date is Friday, September 13th. New Fortress Energy’s dividend payout ratio is currently 18.18%.

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.