New Fortress Energy Inc. (NASDAQ:NFE) Major Shareholder Nfe Smrs Holdings Llc Sells 281,423 Shares

New Fortress Energy Inc. (NASDAQ:NFE) major shareholder Nfe Smrs Holdings Llc sold 281,423 shares of New Fortress Energy stock in a transaction that occurred on Wednesday, June 9th. The stock was sold at an average price of $41.19, for a total value of $11,591,813.37. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Nfe Smrs Holdings Llc also recently made the following trade(s):

  • On Friday, June 4th, Nfe Smrs Holdings Llc sold 108,871 shares of New Fortress Energy stock. The stock was sold at an average price of $40.30, for a total value of $4,387,501.30.
  • On Wednesday, June 2nd, Nfe Smrs Holdings Llc sold 70,329 shares of New Fortress Energy stock. The shares were sold at an average price of $42.59, for a total transaction of $2,995,312.11.
  • On Thursday, May 27th, Nfe Smrs Holdings Llc sold 242,671 shares of New Fortress Energy stock. The stock was sold at an average price of $42.93, for a total transaction of $10,417,866.03.

Shares of NASDAQ:NFE opened at $40.53 on Friday. The company has a market capitalization of $7.13 billion, a PE ratio of -14.37 and a beta of 1.65. The company has a debt-to-equity ratio of 4.26, a quick ratio of 2.66 and a current ratio of 2.80. New Fortress Energy Inc. has a 12 month low of $11.48 and a 12 month high of $65.90. The business’s 50 day moving average price is $43.53.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Friday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.26). New Fortress Energy had a negative net margin of 40.46% and a negative return on equity of 28.02%. The firm had revenue of $145.70 million for the quarter, compared to analyst estimates of $189.44 million. The company’s revenue was up 95.6% on a year-over-year basis. On average, equities analysts predict that New Fortress Energy Inc. will post 1.15 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 11th. Investors of record on Tuesday, June 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Friday, May 28th. New Fortress Energy’s payout ratio is currently -72.73%.

A number of institutional investors have recently modified their holdings of NFE. William Blair Investment Management LLC boosted its position in shares of New Fortress Energy by 1,033.7% during the 4th quarter. William Blair Investment Management LLC now owns 2,584,086 shares of the company’s stock valued at $138,481,000 after purchasing an additional 2,356,153 shares in the last quarter. Federated Hermes Inc. lifted its stake in New Fortress Energy by 26.2% during the fourth quarter. Federated Hermes Inc. now owns 4,157,871 shares of the company’s stock valued at $222,820,000 after purchasing an additional 863,871 shares during the last quarter. Caas Capital Management LP bought a new stake in New Fortress Energy during the fourth quarter worth approximately $13,308,000. Tortoise Capital Advisors L.L.C. grew its position in New Fortress Energy by 679.5% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 274,345 shares of the company’s stock worth $12,595,000 after buying an additional 239,152 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of New Fortress Energy in the first quarter valued at $5,964,000. Hedge funds and other institutional investors own 41.44% of the company’s stock.

NFE has been the subject of a number of recent research reports. Credit Suisse Group lowered their price objective on shares of New Fortress Energy from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, June 2nd. Stifel Nicolaus upgraded New Fortress Energy from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, March 16th. Zacks Investment Research raised New Fortress Energy from a “sell” rating to a “hold” rating in a report on Friday, May 21st. TheStreet downgraded New Fortress Energy from a “c” rating to a “d+” rating in a research note on Monday, May 10th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $55.00 target price on shares of New Fortress Energy in a research note on Thursday, May 13th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. New Fortress Energy currently has a consensus rating of “Buy” and an average target price of $43.85.

About New Fortress Energy

New Fortress Energy Inc operates as an integrated gas-to-power infrastructure company, provides energy and development services to end-users worldwide. The company engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.

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Insider Buying and Selling by Quarter for New Fortress Energy (NASDAQ:NFE)

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