Vanguard Group Inc. increased its position in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 31.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,319,248 shares of the company's stock after purchasing an additional 2,728,191 shares during the period. Vanguard Group Inc. owned 4.50% of New Fortress Energy worth $171,147,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company's stock valued at $32,000 after purchasing an additional 1,962 shares during the period. GAMMA Investing LLC grew its holdings in shares of New Fortress Energy by 148.5% during the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock worth $60,000 after buying an additional 2,370 shares during the last quarter. US Bancorp DE increased its position in New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after acquiring an additional 1,126 shares during the period. Captrust Financial Advisors purchased a new stake in New Fortress Energy during the 3rd quarter valued at approximately $101,000. Finally, KBC Group NV lifted its position in New Fortress Energy by 121.1% during the 4th quarter. KBC Group NV now owns 7,596 shares of the company's stock worth $115,000 after acquiring an additional 4,160 shares during the period. Institutional investors and hedge funds own 58.61% of the company's stock.
Wall Street Analysts Forecast Growth
NFE has been the topic of a number of recent research reports. 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 report on Wednesday. Morgan Stanley dropped their price objective on shares of New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 4th. Stifel Nicolaus cut 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 report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, New Fortress Energy presently has an average rating of "Moderate Buy" and an average target price of $13.83.
View Our Latest Research Report on New Fortress Energy
Insider Activity
In other news, CFO Christopher S. Guinta purchased 5,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the transaction, the chief financial officer now directly owns 206,653 shares in the company, valued at $1,771,016.21. This represents a 2.48 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 37.10% of the company's stock.
New Fortress Energy Price Performance
New Fortress Energy stock traded up $0.09 during midday trading on Friday, reaching $5.90. The company's stock had a trading volume of 8,665,429 shares, compared to its average volume of 4,639,059. The firm has a market capitalization of $1.62 billion, a PE ratio of 6.48 and a beta of 1.52. New Fortress Energy Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $29.46. The stock's 50 day simple moving average is $9.76 and its 200 day simple moving average is $10.99. 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 (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 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 during the quarter, compared to analysts' expectations of $613.24 million. On average, equities research analysts forecast that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.
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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