New Fortress Energy Inc. (NASDAQ:NFE) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP grew its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 275.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,315,926 shares of the company's stock after acquiring an additional 965,669 shares during the period. First Trust Advisors LP owned about 0.52% of New Fortress Energy worth $19,897,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in New Fortress Energy by 2.0% in the fourth quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company's stock worth $730,000 after purchasing an additional 935 shares during the period. US Bancorp DE boosted its holdings in shares of New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after buying an additional 1,126 shares during the period. Allworth Financial LP grew its position 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 buying an additional 1,962 shares during the last quarter. GAMMA Investing LLC raised its stake in New Fortress Energy by 148.5% during the fourth 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 period. Finally, PNC Financial Services Group Inc. raised its stake in 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 acquiring an additional 2,951 shares during the period. Institutional investors own 58.61% of the company's stock.

Insider Activity

In other news, CFO Christopher S. Guinta acquired 5,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the acquisition, the chief financial officer now directly 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 is available through this link. Insiders own 37.10% of the company's stock.

New Fortress Energy Trading Down 6.0 %

NASDAQ:NFE opened at $5.52 on Friday. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 6.07 and a beta of 1.52. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. New Fortress Energy Inc. has a 1 year low of $4.72 and a 1 year high of $29.11. The business has a fifty day moving average of $8.36 and a 200-day moving average of $10.72.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its 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. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The firm had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. Equities analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NFE. 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. Stifel Nicolaus dropped their target price on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a report on Wednesday, March 12th. Finally, Citigroup dropped their price objective on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $13.00.

About New Fortress Energy

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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