Capital International Investors acquired a new stake in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 285,872 shares of the company's stock, valued at approximately $4,322,000. Capital International Investors owned about 0.11% of New Fortress Energy at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. William Blair Investment Management LLC grew its stake in New Fortress Energy by 40.8% in the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock valued at $235,374,000 after buying an additional 4,509,177 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 2,728,191 shares during the period. Primecap Management Co. CA lifted its holdings in New Fortress Energy by 13.6% during the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock worth $198,027,000 after purchasing an additional 1,564,893 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new stake in New Fortress Energy during the 4th quarter worth about $19,618,000. Finally, King Luther Capital Management Corp bought a new position in New Fortress Energy in the 4th quarter worth about $15,120,000. 58.61% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price target 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. Citigroup lowered their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Stifel Nicolaus decreased their price target on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday. 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 given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $13.00.
Read Our Latest Report on NFE
Insider Buying and Selling at New Fortress Energy
In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of the business's stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost 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 approximately $1,771,016.21. This represents a 2.48 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 37.10% of the company's stock.
New Fortress Energy Price Performance
Shares of New Fortress Energy stock traded down $0.35 on Friday, hitting $5.52. 5,058,905 shares of the company traded hands, compared to its average volume of 4,890,341. New Fortress Energy Inc. has a 12-month low of $4.72 and a 12-month high of $29.11. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The company has a market cap of $1.51 billion, a P/E ratio of 6.07 and a beta of 1.52. The firm's 50-day simple moving average is $8.36 and its 200 day simple moving average is $10.71.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.07. The firm had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.
New Fortress Energy Company Profile
(
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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