Mackenzie Financial Corp Invests $3.02 Million in New Fortress Energy Inc. (NASDAQ:NFE)

Mackenzie Financial Corp acquired a new stake in New Fortress Energy Inc. (NASDAQ:NFE) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 80,077 shares of the company’s stock, valued at approximately $3,021,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of New Fortress Energy by 41.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock valued at $278,035,000 after acquiring an additional 2,482,627 shares in the last quarter. William Blair Investment Management LLC lifted its position in New Fortress Energy by 12.0% during the third quarter. William Blair Investment Management LLC now owns 6,275,847 shares of the company’s stock valued at $205,722,000 after purchasing an additional 674,685 shares during the last quarter. Federated Hermes Inc. grew its stake in New Fortress Energy by 10.8% in the 3rd quarter. Federated Hermes Inc. now owns 4,401,700 shares of the company’s stock worth $144,288,000 after buying an additional 427,300 shares in the last quarter. Invesco Ltd. increased its holdings in shares of New Fortress Energy by 1.4% in the 3rd quarter. Invesco Ltd. now owns 3,427,576 shares of the company’s stock worth $112,356,000 after buying an additional 46,584 shares during the last quarter. Finally, Electron Capital Partners LLC increased its holdings in shares of New Fortress Energy by 208.4% in the 3rd quarter. Electron Capital Partners LLC now owns 1,208,505 shares of the company’s stock worth $39,615,000 after buying an additional 816,643 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of New Fortress Energy from $49.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $35.00 price target (down previously from $40.00) on shares of New Fortress Energy in a research note on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.29.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE opened at $28.14 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 3.66. The stock has a market cap of $5.77 billion, a PE ratio of 10.62 and a beta of 1.53. The company’s fifty day moving average is $30.86 and its 200 day moving average is $33.33. New Fortress Energy Inc. has a 52 week low of $25.06 and a 52 week high of $40.04.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Thursday, February 29th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. New Fortress Energy had a return on equity of 36.16% and a net margin of 22.70%. The firm had revenue of $758.60 million for the quarter, compared to analysts’ expectations of $647.54 million. During the same period last year, the firm earned $0.87 earnings per share. The company’s revenue for the quarter was up 38.8% compared to the same quarter last year. Research analysts anticipate that New Fortress Energy Inc. will post 3.73 earnings per share for the current year.

New Fortress Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were paid a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.42%. New Fortress Energy’s dividend payout ratio (DPR) is currently 15.09%.

New Fortress Energy 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.