Empowered Funds LLC Buys Shares of 41,337 New Fortress Energy Inc. (NASDAQ:NFE)

Empowered Funds LLC acquired a new stake in New Fortress Energy Inc. (NASDAQ:NFEGet Rating) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 41,337 shares of the company’s stock, valued at approximately $1,807,000.

A number of other large investors have also made changes to their positions in NFE. FMR LLC increased its position in shares of New Fortress Energy by 111.7% in the 2nd quarter. FMR LLC now owns 2,372,779 shares of the company’s stock valued at $93,891,000 after buying an additional 1,251,862 shares in the last quarter. PointState Capital LP increased its position in shares of New Fortress Energy by 153.9% in the 1st quarter. PointState Capital LP now owns 1,195,643 shares of the company’s stock valued at $50,946,000 after buying an additional 724,709 shares in the last quarter. Invesco Ltd. increased its position in shares of New Fortress Energy by 579.3% in the 1st quarter. Invesco Ltd. now owns 522,106 shares of the company’s stock valued at $22,246,000 after buying an additional 445,250 shares in the last quarter. First Trust Advisors LP increased its position in shares of New Fortress Energy by 243.1% in the 1st quarter. First Trust Advisors LP now owns 423,619 shares of the company’s stock valued at $18,050,000 after buying an additional 300,159 shares in the last quarter. Finally, Capital World Investors increased its position in shares of New Fortress Energy by 3.5% in the 1st quarter. Capital World Investors now owns 8,380,111 shares of the company’s stock valued at $357,077,000 after buying an additional 285,542 shares in the last quarter. Institutional investors own 50.16% of the company’s stock.

Analysts Set New Price Targets

NFE has been the subject of a number of recent analyst reports. Jefferies Financial Group started coverage on shares of New Fortress Energy in a research report on Wednesday, October 19th. They issued a “buy” rating and a $65.00 price objective for the company. Barclays upped their target price on shares of New Fortress Energy from $48.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 16th. Evercore ISI upped their target price on shares of New Fortress Energy to $74.00 in a research note on Tuesday, November 15th. Finally, TheStreet lowered shares of New Fortress Energy from a “b-” rating to a “c+” rating in a research note on Wednesday, November 23rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, New Fortress Energy currently has an average rating of “Moderate Buy” and a consensus price target of $62.50.

New Fortress Energy Trading Up 1.7 %

Shares of NASDAQ:NFE opened at $36.93 on Wednesday. New Fortress Energy Inc. has a 52-week low of $19.41 and a 52-week high of $63.06. The company has a market capitalization of $7.71 billion, a P/E ratio of 27.77 and a beta of 1.66. The company has a 50-day simple moving average of $43.37 and a 200 day simple moving average of $48.21. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.72 and a current ratio of 1.83.

New Fortress Energy (NASDAQ:NFEGet Rating) last issued its earnings results on Tuesday, November 8th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.58). New Fortress Energy had a net margin of 11.38% and a return on equity of 33.81%. The firm had revenue of $731.93 million during the quarter, compared to analyst estimates of $741.10 million. Sell-side analysts forecast that New Fortress Energy Inc. will post 3.21 earnings per share for the current year.

New Fortress Energy Increases Dividend

The company also recently announced a Special dividend, which was paid on Friday, January 13th. Investors of record on Wednesday, January 4th were paid a $3.00 dividend. This is an increase from New Fortress Energy’s previous Special dividend of $0.10. This represents a yield of 24.55%. The ex-dividend date was Tuesday, January 3rd. New Fortress Energy’s dividend payout ratio (DPR) is 902.26%.

Insider Activity at New Fortress Energy

In other New Fortress Energy news, major shareholder Energy Transition Holdings Llc sold 6,900,000 shares of the stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $45.56, for a total value of $314,364,000.00. Following the transaction, the insider now directly owns 25,559,846 shares of the company’s stock, valued at approximately $1,164,506,583.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Katherine Wanner purchased 3,370 shares of the stock in a transaction on Thursday, December 22nd. The shares were purchased at an average cost of $41.79 per share, with a total value of $140,832.30. Following the acquisition, the director now directly owns 82,599 shares in the company, valued at $3,451,812.21. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Energy Transition Holdings Llc sold 6,900,000 shares of the stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $45.56, for a total transaction of $314,364,000.00. Following the completion of the transaction, the insider now directly owns 25,559,846 shares in the company, valued at $1,164,506,583.76. The disclosure for this sale can be found here. 37.70% of the stock is currently owned by company insiders.

New Fortress Energy Company Profile

(Get Rating)

New Fortress Energy, Inc is a holding company engaged in the management of integrated gas-to-power energy infrastructure. It funds, builds, and operates natural gas infrastructure and logistics to deliver energy solutions. The company was founded by Wesley Robert Edens on February 25, 2014 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for New Fortress Energy (NASDAQ:NFE)

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