Alaska Permanent Fund Corp Has $2.94 Million Position in New Fortress Energy Inc. (NASDAQ:NFE)

Alaska Permanent Fund Corp cut its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,997 shares of the company’s stock after selling 1,803 shares during the period. Alaska Permanent Fund Corp’s holdings in New Fortress Energy were worth $2,943,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NFE. Vanguard Group Inc. boosted its position in New Fortress Energy by 41.4% during the third quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock valued at $278,035,000 after purchasing an additional 2,482,627 shares during the last quarter. Electron Capital Partners LLC lifted its position in shares of New Fortress Energy by 208.4% in the third quarter. Electron Capital Partners LLC now owns 1,208,505 shares of the company’s stock valued at $39,615,000 after buying an additional 816,643 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of New Fortress Energy by 12.0% in the third quarter. William Blair Investment Management LLC now owns 6,275,847 shares of the company’s stock valued at $205,722,000 after buying an additional 674,685 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of New Fortress Energy by 10.8% in the third quarter. Federated Hermes Inc. now owns 4,401,700 shares of the company’s stock valued at $144,288,000 after buying an additional 427,300 shares during the last quarter. Finally, PointState Capital LP lifted its position in shares of New Fortress Energy by 130.7% in the third quarter. PointState Capital LP now owns 679,126 shares of the company’s stock valued at $22,262,000 after buying an additional 384,778 shares during the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Price Performance

NFE stock traded down $0.47 during midday trading on Wednesday, reaching $27.60. 790,465 shares of the stock were exchanged, compared to its average volume of 1,295,545. The stock has a market capitalization of $5.66 billion, a PE ratio of 10.59 and a beta of 1.53. New Fortress Energy Inc. has a 52 week low of $25.06 and a 52 week high of $40.04. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.57 and a quick ratio of 0.51. The company has a fifty day moving average price of $30.79 and a 200 day moving average price of $33.31.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Thursday, February 29th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. The business had revenue of $758.60 million for the quarter, compared to analyst estimates of $647.54 million. New Fortress Energy had a return on equity of 36.16% and a net margin of 22.70%. New Fortress Energy’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS. As a group, analysts expect that New Fortress Energy Inc. will post 3.73 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently declared 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 of this dividend was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.45%. New Fortress Energy’s dividend payout ratio (DPR) is presently 15.09%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Stifel Nicolaus cut their price objective on New Fortress Energy from $49.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $35.00 price target (down from $40.00) on shares of New Fortress Energy in a research note on Monday, March 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $39.29.

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.