American Assets Capital Advisers LLC grew its holdings in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 56.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,430,812 shares of the company's stock after purchasing an additional 875,045 shares during the period. New Fortress Energy makes up about 12.3% of American Assets Capital Advisers LLC's portfolio, making the stock its biggest holding. American Assets Capital Advisers LLC owned about 0.97% of New Fortress Energy worth $36,754,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. US Bancorp DE grew its position in New Fortress Energy by 31.5% during the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after purchasing an additional 1,126 shares during the last quarter. KBC Group NV grew its holdings in shares of New Fortress Energy by 116.9% during the third quarter. KBC Group NV now owns 3,436 shares of the company's stock valued at $31,000 after buying an additional 1,852 shares during the last quarter. Allworth Financial LP increased its position in shares of 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 acquiring an additional 1,962 shares during the period. GAMMA Investing LLC raised its stake in New Fortress Energy by 148.5% in the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock worth $60,000 after acquiring an additional 2,370 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in New Fortress Energy by 21.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,438 shares of the company's stock worth $249,000 after acquiring an additional 2,951 shares during the period. Hedge funds and other institutional investors own 58.61% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on NFE. Morgan Stanley cut their price objective 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. Stifel Nicolaus cut their price target on shares of New Fortress Energy from $23.00 to $19.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a research report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, New Fortress Energy has a consensus rating of "Hold" and a consensus price target of $15.00.
Check Out Our Latest Report on NFE
Insider Buying and Selling
In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of New Fortress Energy stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $8.57 per share, with a total value of $42,850.00. Following the acquisition, the chief financial officer now owns 206,653 shares of the company's stock, valued at $1,771,016.21. This trade represents a 2.48 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 37.10% of the stock is currently owned by insiders.
New Fortress Energy Stock Performance
Shares of NFE stock traded up $0.09 on Thursday, hitting $10.35. The company had a trading volume of 3,095,188 shares, compared to its average volume of 4,007,217. New Fortress Energy Inc. has a twelve month low of $7.58 and a twelve month high of $31.14. 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 has a market cap of $2.83 billion, a P/E ratio of 11.37 and a beta of 1.58. The company has a 50-day moving average price of $12.44 and a 200-day moving average price of $11.36.
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 (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.07. The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. As a group, equities research analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal 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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