Norges Bank bought a new position in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 670,324 shares of the company's stock, valued at approximately $10,135,000. Norges Bank owned about 0.27% of New Fortress Energy at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of 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 in the last quarter. Cruiser Capital Advisors LLC purchased a new position in New Fortress Energy in the 4th quarter valued at approximately $3,552,000. Vanguard Group Inc. raised its holdings in New Fortress Energy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock valued at $171,147,000 after acquiring an additional 2,728,191 shares during the period. Samalin Investment Counsel LLC purchased a new stake in shares of New Fortress Energy during the fourth quarter worth $188,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of New Fortress Energy in the fourth quarter worth $290,000. 58.61% of the stock is owned by hedge funds and other institutional investors.
New Fortress Energy Price Performance
Shares of NFE stock traded up $0.09 during trading on Friday, hitting $5.90. The company had a trading volume of 8,665,429 shares, compared to its average volume of 4,652,072. The stock's 50-day moving average is $9.76 and its two-hundred day moving average is $11.01. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 6.48 and a beta of 1.52. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. New Fortress Energy Inc. has a 52 week low of $4.80 and a 52 week high of $29.11.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted 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 net margin of 7.84% and a return on equity of 15.60%. The firm had revenue of $679.00 million for the quarter, compared to analysts' expectations of $613.24 million. As a group, analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.
Analyst Ratings Changes
A number of analysts recently issued reports on NFE shares. Citigroup decreased their price objective on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a report on Wednesday, March 12th. 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. Finally, 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.83.
Get Our Latest Stock Report on NFE
Insider Transactions at New Fortress Energy
In other New Fortress Energy news, CFO Christopher S. Guinta acquired 5,000 shares of the stock in a transaction dated 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 acquisition, 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 acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company 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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