Huber Capital Management LLC raised its holdings in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 44.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,231,644 shares of the company's stock after purchasing an additional 381,758 shares during the quarter. New Fortress Energy comprises approximately 3.7% of Huber Capital Management LLC's portfolio, making the stock its 5th largest holding. Huber Capital Management LLC owned about 0.49% of New Fortress Energy worth $18,622,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of New Fortress Energy by 2.0% during the 4th quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company's stock valued at $730,000 after acquiring an additional 935 shares during the last quarter. US Bancorp DE raised its holdings in New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after acquiring an additional 1,126 shares in the last quarter. Allworth Financial LP grew its stake in New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after purchasing an additional 1,962 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of New Fortress Energy by 148.5% in the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock valued at $60,000 after acquiring an additional 2,370 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of New Fortress Energy by 21.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,438 shares of the company's stock worth $249,000 after purchasing an additional 2,951 shares during the period. 58.61% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at New Fortress Energy
In related news, CFO Christopher S. Guinta purchased 5,000 shares of the business's stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, the chief financial officer now owns 206,653 shares in the company, valued at $1,771,016.21. This represents a 2.48 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 37.10% of the stock is currently owned by company insiders.
New Fortress Energy Stock Performance
Shares of NFE stock traded down $0.30 during mid-day trading on Tuesday, reaching $5.44. The stock had a trading volume of 4,326,605 shares, compared to its average volume of 4,480,946. New Fortress Energy Inc. has a one year low of $4.80 and a one year high of $30.19. 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 simple moving average is $10.83 and its 200 day simple moving average is $11.17. The firm has a market cap of $1.49 billion, a PE ratio of 5.99 and a beta of 1.52.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. On average, analysts forecast that New Fortress Energy Inc. will post 0.36 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on NFE shares. Stifel Nicolaus reduced their price objective on New Fortress Energy from $23.00 to $19.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a report on Wednesday, March 12th. Finally, Morgan Stanley decreased their target price on New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, New Fortress Energy presently has an average rating of "Hold" and a consensus price target of $15.00.
Read Our Latest Stock Analysis on NFE
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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