Kailix Advisors LLC Has $50.62 Million Stock Position in New Fortress Energy Inc. (NASDAQ:NFE)

Kailix Advisors LLC increased its holdings in New Fortress Energy Inc. (NASDAQ:NFE) by 11.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,203,824 shares of the company’s stock after purchasing an additional 234,371 shares during the period. New Fortress Energy makes up about 32.4% of Kailix Advisors LLC’s holdings, making the stock its biggest holding. Kailix Advisors LLC owned approximately 1.07% of New Fortress Energy worth $50,622,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Versor Investments LP bought a new stake in New Fortress Energy in the 2nd quarter worth $268,000. Commonwealth Equity Services LLC increased its holdings in New Fortress Energy by 4.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock valued at $477,000 after purchasing an additional 999 shares during the period. Bank of New York Mellon Corp raised its position in New Fortress Energy by 10.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 468,056 shares of the company’s stock valued at $10,288,000 after purchasing an additional 45,924 shares during the last quarter. American National Bank purchased a new stake in New Fortress Energy in the 2nd quarter worth approximately $26,000. Finally, ORG Partners LLC grew its position 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. Institutional investors own 58.61% of the company’s stock.

New Fortress Energy Trading Up 3.5 %

NASDAQ NFE opened at $11.95 on Thursday. New Fortress Energy Inc. has a 12 month low of $11.32 and a 12 month high of $40.04. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38. The stock’s fifty day moving average price is $17.51 and its 200-day moving average price is $24.18. The stock has a market cap of $2.45 billion, a P/E ratio of 5.25 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.50). The firm had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $465.52 million. New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same period last year, the company posted $0.58 earnings per share. As a group, equities analysts forecast that New Fortress Energy Inc. will post 0.5 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is currently 18.18%.

Analysts Set New Price Targets

A number of analysts recently commented on NFE shares. Stifel Nicolaus dropped their price target on 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. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a report on Monday, August 12th. Finally, Barclays reduced their target price on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Three investment 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 has a consensus rating of “Hold” and an average price target of $29.00.

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.