Rockefeller Capital Management L.P. Raises Stake in New Fortress Energy Inc. (NASDAQ:NFE)

Rockefeller Capital Management L.P. lifted its holdings in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 77.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 221,477 shares of the company's stock after purchasing an additional 96,728 shares during the period. Rockefeller Capital Management L.P. owned about 0.11% of New Fortress Energy worth $2,013,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in NFE. Vontobel Holding Ltd. bought a new stake in New Fortress Energy in the third quarter valued at approximately $511,000. Pinnacle Associates Ltd. purchased a new position in shares of New Fortress Energy in the third quarter worth $890,000. American Assets Investment Management LLC raised its holdings in New Fortress Energy by 101.6% during the 3rd quarter. American Assets Investment Management LLC now owns 114,065 shares of the company's stock valued at $1,037,000 after buying an additional 57,479 shares during the last quarter. M&G Plc boosted its position in New Fortress Energy by 52.6% during the 2nd quarter. M&G Plc now owns 2,537,712 shares of the company's stock valued at $55,830,000 after buying an additional 874,210 shares during the period. Finally, Primecap Management Co. CA grew its holdings in New Fortress Energy by 43.7% in the 3rd quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company's stock worth $104,827,000 after acquiring an additional 3,505,975 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company's stock.

New Fortress Energy Stock Up 3.8 %

Shares of NFE traded up $0.45 during trading hours on Friday, hitting $12.41. The company had a trading volume of 6,685,389 shares, compared to its average volume of 5,106,119. 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 52-week low of $7.82 and a 52-week high of $39.26. The firm has a fifty day moving average price of $9.41 and a 200-day moving average price of $14.87. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 13.64 and a beta of 1.60.

Insider Activity at New Fortress Energy

In related news, CEO Wesley R. Edens acquired 5,793,742 shares of the stock in a transaction dated Tuesday, October 1st. The stock was acquired at an average cost of $8.63 per share, with a total value of $49,999,993.46. Following the purchase, the chief executive officer now directly owns 35,721,915 shares of the company's stock, valued at approximately $308,280,126.45. This trade represents a 19.36 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 37.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NFE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a "sell" rating to a "hold" rating and set a $11.00 price objective for the company in a research note on Wednesday. BTIG Research dropped their price objective on New Fortress Energy from $35.00 to $15.00 and set a "buy" rating for the company in a report on Friday, September 13th. Morgan Stanley cut New Fortress Energy from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $35.00 to $15.00 in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus dropped their price target on New Fortress Energy from $40.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, August 12th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $20.33.

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.