Capital International Sarl bought a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 159,239 shares of the company's stock, valued at approximately $2,408,000. Capital International Sarl owned approximately 0.06% of New Fortress Energy as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the business. Allworth Financial LP lifted its stake in New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company's stock valued at $32,000 after purchasing an additional 1,962 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of New Fortress Energy by 148.5% during the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock worth $60,000 after buying an additional 2,370 shares in the last quarter. US Bancorp DE lifted its stake in shares of New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after acquiring an additional 1,126 shares during the last quarter. KBC Group NV boosted its holdings in shares of New Fortress Energy by 121.1% during the 4th quarter. KBC Group NV now owns 7,596 shares of the company's stock valued at $115,000 after acquiring an additional 4,160 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of New Fortress Energy during the 4th quarter valued at $118,000. 58.61% of the stock is owned by institutional investors.
Insider Activity
In other news, CFO Christopher S. Guinta acquired 5,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the purchase, the chief financial officer now owns 206,653 shares in the company, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 37.10% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several equities analysts have commented on NFE shares. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a research report on Wednesday, March 12th. Citigroup cut their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Stifel Nicolaus decreased their price target on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Morgan Stanley cut their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $13.00.
View Our Latest Analysis on NFE
New Fortress Energy Trading Up 11.8 %
Shares of NFE traded up $0.62 during trading hours on Thursday, hitting $5.84. 3,422,231 shares of the stock were exchanged, compared to its average volume of 4,844,806. The firm has a market capitalization of $1.60 billion, a P/E ratio of 6.42 and a beta of 1.52. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. New Fortress Energy Inc. has a fifty-two week low of $4.72 and a fifty-two week high of $29.11. The business has a 50-day moving average of $8.63 and a 200-day moving average of $10.76.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.07. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The firm had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. On average, research analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current year.
About New Fortress Energy
(
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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