Marshall Wace LLP Purchases New Position in New Fortress Energy Inc. (NASDAQ:NFE)

Marshall Wace LLP acquired a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 242,290 shares of the company's stock, valued at approximately $3,663,000. Marshall Wace LLP owned approximately 0.10% of New Fortress Energy as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brandywine Global Investment Management LLC acquired a new stake in New Fortress Energy during the fourth quarter valued at approximately $19,618,000. Raymond James Financial Inc. acquired a new stake in New Fortress Energy during the fourth quarter valued at approximately $787,000. Norges Bank acquired a new stake in New Fortress Energy during the fourth quarter valued at approximately $10,135,000. Huber Capital Management LLC grew its holdings in shares of New Fortress Energy by 44.9% during the fourth quarter. Huber Capital Management LLC now owns 1,231,644 shares of the company's stock valued at $18,622,000 after purchasing an additional 381,758 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of New Fortress Energy by 31.8% during the fourth 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. Institutional investors and hedge funds own 58.61% of the company's stock.

Insiders Place Their Bets

In related news, CFO Christopher S. Guinta acquired 5,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the transaction, the chief financial officer now owns 206,653 shares of the company's stock, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 37.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on NFE. Citigroup lowered their target price on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Stifel Nicolaus lowered their target price on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a report on Wednesday, March 12th. Finally, Morgan Stanley lowered their target price on New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, New Fortress Energy presently has an average rating of "Moderate Buy" and a consensus target price of $13.00.

New Fortress Energy Stock Performance

NFE stock traded up $0.02 on Tuesday, reaching $5.78. The company's stock had a trading volume of 4,558,813 shares, compared to its average volume of 4,903,625. New Fortress Energy Inc. has a 52 week low of $4.72 and a 52 week high of $29.11. The company has a market capitalization of $1.58 billion, a P/E ratio of 6.35 and a beta of 1.52. The firm has a fifty day moving average of $8.23 and a two-hundred day moving average of $10.71. 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 (NASDAQ:NFE - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. As a group, analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal 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.