Maryland State Retirement & Pension System raised its stake in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 51.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,810 shares of the company's stock after buying an additional 31,045 shares during the quarter. Maryland State Retirement & Pension System's holdings in New Fortress Energy were worth $1,373,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. KBC Group NV raised its stake in New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company's stock worth $31,000 after buying an additional 1,852 shares during the period. Allworth Financial LP lifted its holdings in shares of New Fortress Energy by 2,156.0% during 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 in the last quarter. GAMMA Investing LLC raised its holdings in New Fortress Energy by 148.5% during the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock worth $60,000 after buying an additional 2,370 shares during the period. US Bancorp DE increased its position in shares of New Fortress Energy by 31.5% during the fourth quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after acquiring an additional 1,126 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new position in New Fortress Energy in the 3rd quarter worth $101,000. Institutional investors own 58.61% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on NFE. Morgan Stanley lowered 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. Stifel Nicolaus lowered their price target on New Fortress Energy from $23.00 to $19.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $15.00.
Check Out Our Latest Report on NFE
New Fortress Energy Stock Performance
Shares of NASDAQ:NFE traded down $0.83 on Wednesday, hitting $11.07. The company had a trading volume of 5,382,589 shares, compared to its average volume of 4,078,717. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 12.16 and a beta of 1.58. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. New Fortress Energy Inc. has a 1-year low of $7.58 and a 1-year high of $30.80. The stock has a 50 day moving average price of $12.20 and a 200 day moving average price of $11.36.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $679.00 million for 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%. Analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current year.
Insider Buying and Selling at New Fortress Energy
In related news, CFO Christopher S. Guinta purchased 5,000 shares of New Fortress Energy stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost 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 trade represents a 2.48 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 37.10% of the company's stock.
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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