Advanced Portfolio Management LLC, a prominent institutional investor, recently purchased a significant stake in New Fortress Energy Inc. (NASDAQ:NFE). According to the company’s disclosure with the Securities and Exchange Commission (SEC), Advanced Portfolio Management LLC acquired 100,000 shares of NFE, valued at approximately $2,943,000. This investment now accounts for about 2.9% of Advanced Portfolio Management LLC’s overall investment portfolio, ranking it as the firm’s 12th largest holding.
New Fortress Energy is an energy infrastructure company that specializes in providing sustainable and reliable energy solutions globally. With a focus on developing and operating natural gas infrastructure and logistics facilities, NFE aims to contribute to the transition towards cleaner energy sources.
In terms of financial performance, New Fortress Energy recently announced its earnings results for the quarter ending August 8th. The company reported a strong earnings per share (EPS) of $0.58, surpassing market analysts’ consensus estimates of $0.56 by $0.02. Moreover, NFE achieved a commendable return on equity of 35.70% and maintained a net margin of 16.35%. However, it is worth noting that the company experienced a decline in revenue during this quarter, generating $561.35 million compared to analysts’ expectations of $573.60 million. In comparison to the same period last year, NFE recorded a decrease in revenue by 3.1%.
Despite this slight decline in revenue, equities analysts maintain a positive outlook for New Fortress Energy’s future performance. They predict that NFE will post earnings per share of approximately $3.73 for the current fiscal year.
As an investor-focused research firm, we invite you to explore our latest report on New Fortress Energy Inc., which delves deeper into its operations, financials and industry prospects.”
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Institutional Investors Show Growing Interest in New Fortress Energy as Hedge Funds Buy and Sell Shares
Institutional investors are showing their interest in New Fortress Energy as hedge funds and other firms continue to buy and sell shares of the company. One notable investor, American International Group Inc., has increased its position in New Fortress Energy by 49.5% during the second quarter. With an additional 249 shares purchased in the last quarter, American International Group Inc. now owns a total of 752 shares valued at $30,000.
HighTower Advisors LLC also saw growth in its holdings of New Fortress Energy, with a 1.9% increase during the first quarter. This move added an extra 300 shares to their portfolio, which is now worth $673,000. Similarly, BNP Paribas Arbitrage SA experienced a significant boost of 41.1% in its holdings during the first quarter. Acquiring an additional 316 shares brought their total ownership to 1,084 shares valued at $46,000.
Alliancebernstein L.P., too, recognized the potential of New Fortress Energy and increased its holdings by 1.7% during the fourth quarter. By adding an extra 334 shares to their portfolio, Alliancebernstein L.P.’s stake in the company now stands at 20,268 shares valued at $860,000. MetLife Investment Management LLC also saw growth in its holdings as it acquired an additional 341 shares during the same period. Their total ownership now amounts to 3,330 shares worth $141,000.
It is noteworthy that institutional investors hold a considerable portion of New Fortress Energy’s stock, amounting to approximately 50.16% of all outstanding shares.
Analyzing recent market data for New Fortress Energy Inc., on September thirteen overall shows a market capitalization standing at $6.62 billion; alongside this capturing assessment take note that share price opened for business on NASDAQ NFE trading platform Wednesday beginning with initiation cost per share from $32.28. Furthermore, the business’s fifty-day moving average and 200-day moving averages reveal $29.02 and $29.27 respectively.
With a price-to-earnings ratio of 17.17 and a beta of 1.56—highlighting its sensitivity to market fluctuations—the company seems to have a strong position in the market, amplified by a debt-to-equity ratio of 3.27, current ratio of 0.35, and quick ratio of 0.28.
Investors are anticipating New Fortress Energy’s upcoming quarterly dividend, which is scheduled to be paid on September twenty-seventh—a reflection of the company’s commitment to rewarding shareholders financially for their investments. Moreover, investors who were registered as shareholders on September thirteenth will receive a $0.10 dividend payment per share owned—an ex-dividend date was effective on September twelfth.
This announcement reflects New Fortress Energy Inc.’s ongoing efforts to enhance shareholder value through regular dividend payouts, reinforcing its commitment to providing returns even amidst uncertain market conditions.
Financial analysts have provided insight into New Fortress Energy’s stock outlook with some notable ratings and reviews from Morgan Stanley, Bank of America, Barclays, and TheStreet.
Morgan Stanley reduced their target price for New Fortress Energy from $48.00 to $44.00 but maintained an “overweight” rating on the stock in their report issued on August ninth.
Bank of America downgraded their rating from “buy” to “neutral” while lowering the price target from $59.00 to $31.00 in their research note published on June eighth.
Barclays also adjusted their outlook by reducing the price target from $34.00 to $32.00; however, they maintained an “equal weight” rating for New Fortress Energy in their research note released on July thirty-first.
TheStreet upgraded their rating from “c” to “b-” for New Fortress Energy in their research note dated August ninth.
Overall market sentiment indicates a general positive view towards New Fortress Energy, with an average rating of “Moderate Buy” based on data from Bloomberg.com. Additionally, the consensus price target for New Fortress Energy currently stands at $50.33 according to analyst predictions.
Investors and market analysts continue to assess the potential growth of New Fortress Energy, as institutional investors increase their positions and ratings fluctuate. As the company remains committed to driving shareholder value through dividend payouts and ongoing business operations, attention will undoubtedly be focused on how New Fortress Energy navigates future opportunities and challenges in the energy sector.
