Geode Capital Management LLC increased its position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 62.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,718,521 shares of the company's stock after acquiring an additional 660,119 shares during the period. Geode Capital Management LLC owned approximately 0.68% of New Fortress Energy worth $25,993,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. William Blair Investment Management LLC increased its position in shares of New Fortress Energy by 40.8% in the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock valued at $235,374,000 after acquiring an additional 4,509,177 shares during the period. Vanguard Group Inc. raised its position in New Fortress Energy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock valued at $171,147,000 after purchasing an additional 2,728,191 shares during the last quarter. Primecap Management Co. CA lifted its holdings in New Fortress Energy by 13.6% in the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock worth $198,027,000 after buying an additional 1,564,893 shares during the period. Brandywine Global Investment Management LLC purchased a new position in shares of New Fortress Energy during the fourth quarter valued at approximately $19,618,000. Finally, King Luther Capital Management Corp purchased a new stake in New Fortress Energy in the fourth quarter worth $15,120,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at New Fortress Energy
In other New Fortress Energy news, CFO Christopher S. Guinta acquired 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, the chief financial officer now directly owns 206,653 shares in the company, valued at $1,771,016.21. The trade was a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 37.10% of the company's stock.
New Fortress Energy Price Performance
NASDAQ NFE traded down $0.72 on Monday, reaching $4.97. The company had a trading volume of 6,940,076 shares, compared to its average volume of 4,794,339. The stock has a market capitalization of $1.36 billion, a PE ratio of 5.46 and a beta of 1.52. New Fortress Energy Inc. has a 12 month low of $4.72 and a 12 month high of $29.11. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The firm's 50 day moving average price is $9.04 and its 200 day moving average price is $10.88.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $679.00 million for the quarter, compared to analysts' expectations of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. As a group, equities analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Citigroup decreased their price target on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Stifel Nicolaus reduced their price target on New Fortress Energy from $23.00 to $19.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a report on Wednesday, March 12th. Finally, Morgan Stanley cut their price objective 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.83.
Read Our Latest Report on New Fortress Energy
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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