Alyeska Investment Group L.P. acquired a new position in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 200,000 shares of the company's stock, valued at approximately $3,024,000. Alyeska Investment Group L.P. owned approximately 0.08% of New Fortress Energy at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in NFE. Capital World Investors boosted its position in shares of New Fortress Energy by 87.9% during the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company's stock valued at $301,266,000 after buying an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of New Fortress Energy by 40.8% in the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock worth $235,374,000 after acquiring an additional 4,509,177 shares during the period. Primecap Management Co. CA increased its position in New Fortress Energy by 13.6% during the fourth quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock valued at $198,027,000 after acquiring an additional 1,564,893 shares during the last quarter. Vanguard Group Inc. increased its position in New Fortress Energy by 31.8% during the fourth 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 last quarter. Finally, Hood River Capital Management LLC purchased a new stake in shares of New Fortress Energy during the 4th quarter valued at about $155,023,000. Hedge funds and other institutional investors own 58.61% of the company's stock.
New Fortress Energy Stock Up 7.7%
New Fortress Energy stock traded up $0.49 during midday trading on Monday, hitting $6.81. 2,620,306 shares of the company's stock were exchanged, compared to its average volume of 5,008,548. The company has a market cap of $1.86 billion, a PE ratio of 7.49 and a beta of 1.45. The firm has a 50-day moving average of $7.41 and a two-hundred day moving average of $10.51. 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 12 month low of $4.72 and a 12 month high of $29.11.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The firm had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. As a group, analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
NFE has been the subject of a number of recent analyst reports. Citigroup dropped their price objective on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley lowered 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. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus cut their price objective on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Three investment 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, New Fortress Energy has an average rating of "Moderate Buy" and an average target price of $13.00.
Get Our Latest Research Report on New Fortress Energy
Insiders Place Their Bets
In other news, CFO Christopher S. Guinta bought 5,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $8.57 per share, with a total value of $42,850.00. Following the purchase, the chief financial officer now directly owns 206,653 shares in the company, valued at $1,771,016.21. The trade was a 2.48% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 37.10% of the company's stock.
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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