Welcome to our dedicated page for New Fortress Energy news (Ticker: NFE), a resource for investors and traders seeking the latest updates and insights on New Fortress Energy stock.
New Fortress Energy Inc. (NFE) is a global leader in providing clean, reliable, and affordable natural gas solutions. Established in 2015, the company has pioneered the development and supply of natural gas through end-to-end logistics and infrastructure solutions tailored for power producers, transportation companies, and industrial users worldwide.
NFE's operations began with the construction of the first LNG liquefaction plant in Florida, located in Miami. This facility features comprehensive rail and truck operations, along with on-dock rail access at Port of Miami and Port Everglades. The plant caters to various industries including aerospace, marine, transportation, and power, and is poised to lead the transition from oil to natural gas over the next decade.
One of NFE's significant accomplishments includes receiving approval to export natural gas to non-FTA countries and successfully exporting the first LNG shipment from the U.S. lower-48 states. This milestone underscores the company's capability and commitment to expanding global access to natural gas.
The company's business model is integrated, covering the entire production and delivery chain from natural gas procurement and liquefaction to logistics, shipping, terminals, and the development or conversion of natural gas-fired generation. NFE has invested in floating, liquefied natural gas vessels to reduce costs and secure a long-term gas supply for its terminals.
NFE operates through two primary segments: Terminals and Infrastructure (T&I) and Ships. These segments exemplify the company's strategic approach to managing the logistics and infrastructure essential for efficient natural gas distribution. By leveraging its extensive network and innovative solutions, NFE continues to foster partnerships and advance projects that enhance energy accessibility and sustainability.
Recent news and updates about NFE highlight its ongoing initiatives and developments in the energy sector. Stay informed on the latest performance, events, and advancements of New Fortress Energy Inc., a company dedicated to transforming the energy landscape through cleaner and more affordable natural gas solutions.
New Fortress Energy (NFE) reported impressive financial results for Q4 2022 and the full year, with an Adjusted EBITDA of $239 million for Q4 and nearly $1.1 billion for the year. Net income was reported at $66 million for the quarter and $185 million for the year, with Adjusted EPS of $0.87 and $2.74, respectively. The company announced a 2023 Adjusted EBITDA goal of ~$2.0 billion, nearly double the previous year. Key developments included a 10-year contract for managing Puerto Rico's power generation system, completion of the Barcarena terminal, and progress on Fast LNG initiatives. A $0.10/share dividend was declared, continuing its strategy to return capital to shareholders.
New Fortress Energy (NFE) has entered into an agreement with Golar LNG Limited (GLNG) to sell its stake in the Hilli floating liquefaction facility, receiving 4.1 million NFE shares and $100 million in cash. This transaction will reduce NFE's outstanding shares to approximately 204.7 million and will also allow NFE to eliminate $323 million in associated debt. The deal aims to enable NFE to concentrate on its fully-owned floating LNG portfolio and repurchase its shares at attractive valuations. The transaction is expected to close in Q1 2023, subject to customary conditions.
New Fortress Energy Inc. (NASDAQ: NFE) will announce its financial results for the fourth quarter and full year 2022 on February 28, 2023, at 8:00 A.M. ET. The announcement will be available on the company’s website, including an earnings supplement. A conference call will be held on the same day at 8:00 A.M. ET, accessible via phone or webcast. New Fortress Energy focuses on addressing energy poverty through its global energy infrastructure, owning and operating natural gas and LNG assets, enhancing energy security, and promoting environmental stewardship.
New Fortress Energy Inc. (NASDAQ: NFE) has announced a cash distribution of $0.546875 per unit for its 8.75% Series A Cumulative Redeemable Preferred Units. This distribution covers the period from November 15, 2022 to February 14, 2023 and will be payable on February 15, 2023 to unitholders on record as of February 7, 2023. New Fortress Energy, a global energy infrastructure company, focuses on enhancing energy security and promoting sustainable energy solutions worldwide.
New Fortress Energy (NFE) has secured a 10-year Operation and Maintenance Agreement with Puerto Rico Electric Power Authority (PREPA) through its subsidiary, Genera. This collaboration aims to operate, maintain, and modernize PREPA's thermal generation system, consisting of 3,600 MW. The agreement, established after a competitive process, will enhance cost-efficiency, reliability, and environmental performance in Puerto Rico's energy sector. Genera is expected to achieve significant cost savings and improve operation through the transition to renewable energy sources. The project aligns with Puerto Rico's Integrated Resource Plan to modernize the electrical system.
New Fortress Energy Inc. (NASDAQ: NFE) announced a secondary public offering of 6,900,000 shares at $46.00 per share, representing approximately 3.3% of its outstanding stock. The shares are being sold by Energy Transition Holdings LLC, which holds 21.3% of the company's shares. The offering is expected to close on December 19, 2022, with J.P. Morgan serving as the sole underwriter. The company will not receive any proceeds from the sale. Investors should review the prospectus supplement filed with the SEC for complete details.
New Fortress Energy Inc. (NASDAQ: NFE) has initiated a secondary public offering of 6,900,000 shares of its common stock, representing about 3.3% of its outstanding shares. The shares are being sold by Energy Transition Holdings LLC, managing approximately 21.3% of its holdings as of December 13, 2022. The company will not receive any proceeds from this offering, which is underwritten by J.P. Morgan. Investors are advised to refer to the filed prospectus for detailed information about the offering.
New Fortress Energy (NASDAQ: NFE) has updated its dividend policy to target an annual cash dividend of around 40% of its Adjusted EBITDA. A dividend of
New Fortress Energy (NASDAQ: NFE) has finalized agreements with Mexico's state-owned Pemex to develop an integrated natural gas project off the coast of Veracruz. This partnership, endorsed by President Andrés Manuel López Obrador, aims to develop the Lakach deepwater natural gas field, with NFE investing in the completion of seven offshore wells over two years. The Lakach field is anticipated to produce natural gas at some of the lowest costs globally, contributing approximately 7.0 MTPA to global LNG capacity additions by 2024.
New Fortress Energy Inc. (NFE) reported third-quarter 2022 financial results, showcasing an Adjusted EBITDA of $291 million and a net income of $56 million. The company projected a notable increase in its 2023 Adjusted EBITDA goal to over $2.5 billion, driven by the upcoming deployment of its Fast LNG units. NFE also announced a dividend of $0.10 per share. Significant agreements were made with CFE in Mexico, including a new FLNG hub and a sale of the La Paz power plant. The company continues to enhance its LNG supply portfolio, aiming for a total capacity of approximately 9.5 mtpa by 2024.
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