Raymond James Financial Inc. Invests $787,000 in New Fortress Energy Inc. (NASDAQ:NFE)

Raymond James Financial Inc. bought a new stake in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 52,033 shares of the company's stock, valued at approximately $787,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp raised its position in New Fortress Energy by 4.9% in the third quarter. State Street Corp now owns 1,205,046 shares of the company's stock worth $10,954,000 after acquiring an additional 56,153 shares during the period. Charles Schwab Investment Management Inc. increased its position in New Fortress Energy by 61.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 639,194 shares of the company's stock worth $9,665,000 after buying an additional 242,459 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of New Fortress Energy in the fourth quarter valued at $8,316,000. Exchange Traded Concepts LLC lifted its position in shares of New Fortress Energy by 59.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 227,512 shares of the company's stock valued at $3,440,000 after buying an additional 85,239 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of New Fortress Energy by 77.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 221,477 shares of the company's stock worth $2,013,000 after acquiring an additional 96,728 shares during the period. 58.61% of the stock is owned by hedge funds and other institutional investors.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE traded down $0.87 on Thursday, hitting $5.81. The company's stock had a trading volume of 7,717,170 shares, compared to its average volume of 4,608,864. The company has a market capitalization of $1.59 billion, a PE ratio of 6.38 and a beta of 1.52. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The company has a 50-day simple moving average of $9.92 and a 200 day simple moving average of $11.02. New Fortress Energy Inc. has a 1 year low of $4.80 and a 1 year high of $29.46.

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 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 business had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. Sell-side analysts forecast that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Insider Activity at New Fortress Energy

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 shares were purchased at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, the chief financial officer now owns 206,653 shares of the company's stock, valued at $1,771,016.21. The trade was a 2.48 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 37.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of New Fortress Energy from $23.00 to $19.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Citigroup dropped their target price on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday. Morgan Stanley cut their price target 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. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a research note on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $13.83.

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.