Charles Schwab Investment Management Inc. boosted its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 61.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 639,194 shares of the company's stock after buying an additional 242,459 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.25% of New Fortress Energy worth $9,665,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. KBC Group NV grew its stake 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 grew its position in 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 last quarter. GAMMA Investing LLC increased its stake in New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock worth $60,000 after purchasing an additional 2,370 shares during the period. US Bancorp DE lifted 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 purchasing an additional 1,126 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new stake in shares of New Fortress Energy during the third quarter valued at $101,000. 58.61% of the stock is currently owned by institutional investors.
New Fortress Energy Stock Performance
NASDAQ NFE traded down $0.83 on Wednesday, reaching $11.07. 5,377,906 shares of the company's stock traded hands, compared to its average volume of 4,078,699. New Fortress Energy Inc. has a fifty-two week low of $7.58 and a fifty-two week high of $30.80. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 12.16 and a beta of 1.58. 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 released its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $613.24 million. Equities research analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their price objective on shares of 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. Stifel Nicolaus lowered their price target on New Fortress Energy from $23.00 to $19.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a research note on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $15.00.
Get Our Latest Stock Report on NFE
Insider Buying and Selling at New Fortress Energy
In related news, CFO Christopher S. Guinta purchased 5,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the acquisition, the chief financial officer now owns 206,653 shares in the company, valued at $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 37.10% of the company's stock.
New Fortress Energy Profile
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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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