M&G Plc Acquires New Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

M&G Plc acquired a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 1,663,502 shares of the company’s stock, valued at approximately $51,569,000.

A number of other institutional investors also recently added to or reduced their stakes in NFE. Electron Capital Partners LLC raised its stake in New Fortress Energy by 9.4% in the fourth quarter. Electron Capital Partners LLC now owns 1,322,340 shares of the company’s stock valued at $49,892,000 after buying an additional 113,835 shares during the last quarter. M&G Investment Management Ltd. raised its stake in New Fortress Energy by 70.3% in the fourth quarter. M&G Investment Management Ltd. now owns 1,537,323 shares of the company’s stock valued at $58,418,000 after buying an additional 634,851 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in New Fortress Energy in the fourth quarter valued at about $4,207,000. Capstone Investment Advisors LLC purchased a new stake in New Fortress Energy in the first quarter valued at about $468,000. Finally, Dimensional Fund Advisors LP raised its stake in New Fortress Energy by 21.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,024,178 shares of the company’s stock valued at $38,647,000 after buying an additional 179,293 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.

Analyst Ratings Changes

NFE has been the subject of a number of research analyst reports. Barclays decreased their price target on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. Stifel Nicolaus reduced their price objective on 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 reduced their price objective on New Fortress Energy from $35.00 to $33.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, New Fortress Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.17.

New Fortress Energy Stock Performance

Shares of NASDAQ:NFE traded up $1.38 during trading on Friday, hitting $25.60. The stock had a trading volume of 3,500,593 shares, compared to its average volume of 2,587,899. New Fortress Energy Inc. has a 12-month low of $19.02 and a 12-month high of $40.04. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 11.64 and a beta of 1.49. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 3.74. The stock has a 50-day simple moving average of $23.10 and a two-hundred day simple moving average of $28.44.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. The firm had revenue of $690.30 million for the quarter, compared to analyst estimates of $602.41 million. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. New Fortress Energy’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. On average, equities research analysts expect that New Fortress Energy Inc. will post 1.99 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Saturday, June 15th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, June 14th. New Fortress Energy’s dividend payout ratio (DPR) is 18.18%.

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.