Swiss National Bank lifted its position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 63.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 198,200 shares of the company's stock after purchasing an additional 77,000 shares during the period. Swiss National Bank owned 0.08% of New Fortress Energy worth $2,997,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of NFE. Rockefeller Capital Management L.P. boosted its position in New Fortress Energy by 77.5% during the third quarter. Rockefeller Capital Management L.P. now owns 221,477 shares of the company's stock worth $2,013,000 after purchasing an additional 96,728 shares during the period. Capstone Investment Advisors LLC lifted its stake in shares of New Fortress Energy by 138.0% during the 3rd quarter. Capstone Investment Advisors LLC now owns 26,551 shares of the company's stock worth $241,000 after buying an additional 15,395 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of New Fortress Energy during the 3rd quarter worth about $101,000. Holocene Advisors LP grew its stake in New Fortress Energy by 107.2% in the 3rd quarter. Holocene Advisors LP now owns 389,698 shares of the company's stock valued at $3,542,000 after buying an additional 201,649 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in New Fortress Energy by 26.7% in the 3rd quarter. Janus Henderson Group PLC now owns 148,185 shares of the company's stock valued at $1,347,000 after acquiring an additional 31,201 shares during the period. 58.61% of the stock is owned by institutional investors.
New Fortress Energy Price Performance
New Fortress Energy stock traded down $0.43 during mid-day trading on Friday, reaching $8.85. The company had a trading volume of 9,686,955 shares, compared to its average volume of 4,218,439. The business has a fifty day simple moving average of $11.84 and a 200 day simple moving average of $11.35. The company has a market cap of $2.42 billion, a P/E ratio of 9.73 and a beta of 1.58. 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 current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating 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 company had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. On average, equities research analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.
Insider Activity
In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the transaction, the chief financial officer now owns 206,653 shares in the company, valued at $1,771,016.21. The trade was a 2.48 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 37.10% of the company's stock.
Wall Street Analyst Weigh In
NFE has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a report on Wednesday, March 12th. Morgan Stanley decreased their target price 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. Finally, 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, New Fortress Energy presently has a consensus rating of "Hold" and an average price target of $15.00.
Read Our Latest Stock Analysis on New Fortress Energy
New Fortress Energy Company Profile
(
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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