Capital World Investors Purchases 9,319,985 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Capital World Investors boosted its position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 87.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,925,022 shares of the company's stock after purchasing an additional 9,319,985 shares during the period. Capital World Investors owned 7.92% of New Fortress Energy worth $301,266,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NFE. First Trust Advisors LP increased its stake in shares of New Fortress Energy by 275.7% in the fourth quarter. First Trust Advisors LP now owns 1,315,926 shares of the company's stock worth $19,897,000 after acquiring an additional 965,669 shares during the last quarter. Capital International Investors acquired a new position in New Fortress Energy in the fourth quarter worth approximately $4,322,000. Capital International Sarl bought a new position in New Fortress Energy during the fourth quarter valued at approximately $2,408,000. Marshall Wace LLP acquired a new stake in New Fortress Energy in the fourth quarter valued at approximately $3,663,000. Finally, Gabelli Funds LLC increased its stake in shares of New Fortress Energy by 16.8% during the 4th quarter. Gabelli Funds LLC now owns 90,500 shares of the company's stock worth $1,368,000 after purchasing an additional 13,000 shares during the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at New Fortress Energy

In related news, CFO Christopher S. Guinta acquired 5,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the transaction, the chief financial officer now directly owns 206,653 shares of the company's stock, valued at $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 37.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on NFE. Citigroup decreased their price objective on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Morgan Stanley lowered their price target on 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. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a report on Wednesday, March 12th. Finally, Stifel Nicolaus lowered their price target on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, New Fortress Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.00.

New Fortress Energy Stock Down 6.0 %

Shares of NFE traded down $0.35 during midday trading on Friday, hitting $5.52. The stock had a trading volume of 5,052,438 shares, compared to its average volume of 6,417,503. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 6.07 and a beta of 1.52. The company has a 50 day simple moving average of $8.51 and a two-hundred day simple moving average of $10.74. New Fortress Energy Inc. has a twelve month low of $4.72 and a twelve month high of $29.11.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The business had revenue of $679.00 million during the quarter, compared to analysts' expectations of $613.24 million. On average, analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current year.

New Fortress Energy Company 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.