Bank of New York Mellon Corp reduced its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 56.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 207,706 shares of the company's stock after selling 272,495 shares during the period. Bank of New York Mellon Corp owned 0.08% of New Fortress Energy worth $3,141,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP grew 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 acquiring an additional 1,962 shares in the last quarter. KBC Group NV grew its holdings in shares of New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company's stock valued at $31,000 after acquiring an additional 1,852 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 purchasing an additional 2,370 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of New Fortress Energy in the 4th quarter valued at $118,000. Finally, SG Americas Securities LLC acquired a new stake in shares of New Fortress Energy in the 4th quarter valued at $125,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.
New Fortress Energy Stock Performance
New Fortress Energy stock traded up $0.82 on Friday, reaching $11.17. 8,487,761 shares of the stock were exchanged, compared to its average volume of 4,058,004. The stock has a market cap of $3.06 billion, a PE ratio of 12.27 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 twelve month low of $7.58 and a twelve month high of $30.80. The firm has a fifty day moving average price of $12.29 and a two-hundred day moving average price of $11.35.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.07. The business had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. Sell-side analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on NFE shares. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research note on Wednesday, March 12th. Morgan Stanley reduced 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 note on Tuesday, March 4th. Finally, Stifel Nicolaus reduced their price objective on shares of New Fortress Energy from $23.00 to $19.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, New Fortress Energy has an average rating of "Hold" and a consensus price target of $15.00.
Get Our Latest Report on New Fortress Energy
Insider Activity
In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired 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 directly owns 206,653 shares in the company, valued at $1,771,016.21. The trade was a 2.48 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 37.10% of the stock is owned by company insiders.
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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