Stock Traders Buy Large Volume of Put Options on New Fortress Energy (NASDAQ:NFE)

New Fortress Energy Inc. (NASDAQ:NFEGet Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 5,074 put options on the company. This is an increase of approximately 70% compared to the typical volume of 2,977 put options.

New Fortress Energy Stock Performance

NFE traded down $0.25 on Tuesday, reaching $22.72. The company had a trading volume of 560,862 shares, compared to its average volume of 1,458,414. New Fortress Energy has a fifty-two week low of $22.42 and a fifty-two week high of $40.04. The stock has a market cap of $4.66 billion, a P/E ratio of 10.34 and a beta of 1.51. The company’s fifty day moving average is $26.84 and its 200 day moving average is $31.64. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.54 and a current ratio of 0.66.

New Fortress Energy (NASDAQ:NFEGet Free Report) last announced its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The firm had revenue of $690.30 million for the quarter, compared to analyst estimates of $602.41 million. During the same quarter in the prior year, the business posted $0.90 EPS. The business’s revenue was up 19.2% compared to the same quarter last year. As a group, analysts predict that New Fortress Energy will post 2.07 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Saturday, June 15th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, June 14th. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.

Analyst Ratings Changes

A number of analysts have commented on NFE shares. Barclays lowered their target price on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of New Fortress Energy from $35.00 to $33.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Finally, Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.17.

Get Our Latest Report on New Fortress Energy

Institutional Trading of New Fortress Energy

A number of institutional investors and hedge funds have recently made changes to their positions in NFE. PNC Financial Services Group Inc. lifted its stake in New Fortress Energy by 5.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,730 shares of the company’s stock valued at $221,000 after purchasing an additional 319 shares during the last quarter. Van ECK Associates Corp lifted its stake in New Fortress Energy by 15.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,623 shares of the company’s stock valued at $119,000 after purchasing an additional 482 shares during the last quarter. Hohimer Wealth Management LLC lifted its stake in New Fortress Energy by 1.3% in the 3rd quarter. Hohimer Wealth Management LLC now owns 46,651 shares of the company’s stock valued at $1,529,000 after purchasing an additional 589 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in New Fortress Energy by 5.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,081 shares of the company’s stock valued at $531,000 after purchasing an additional 716 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its position in New Fortress Energy by 1.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 58,877 shares of the company’s stock valued at $2,221,000 after acquiring an additional 736 shares during the period. Institutional investors own 58.61% of the company’s stock.

About New Fortress Energy

(Get Free Report)

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.

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