Capital World Investors grew its position in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 87.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,925,022 shares of the company's stock after purchasing an additional 9,319,985 shares during the quarter. Capital World Investors owned about 7.92% of New Fortress Energy worth $301,266,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the business. Allworth Financial LP grew its stake in shares of New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after purchasing an additional 1,962 shares during the period. GAMMA Investing LLC grew its position in New Fortress Energy by 148.5% during the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock valued at $60,000 after buying an additional 2,370 shares during the period. US Bancorp DE increased its holdings in New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after buying an additional 1,126 shares in the last quarter. KBC Group NV raised its position in shares of New Fortress Energy by 121.1% in the fourth 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. Finally, Golden State Wealth Management LLC acquired a new stake in shares of New Fortress Energy during the 4th quarter valued at about $118,000. 58.61% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently commented on NFE. Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a report on Wednesday, March 12th. Citigroup reduced their price target on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley lowered their price objective on 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. Finally, Stifel Nicolaus reduced their target price on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday. 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $13.00.
View Our Latest Research Report on New Fortress Energy
Insider Buying and Selling
In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the acquisition, the chief financial officer now directly owns 206,653 shares of the company's stock, valued at $1,771,016.21. This represents a 2.48 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 37.10% of the company's stock.
New Fortress Energy Trading Down 6.0 %
New Fortress Energy stock traded down $0.35 during midday trading on Friday, hitting $5.52. 5,058,905 shares of the stock were exchanged, compared to its average volume of 4,890,341. 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 stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 6.07 and a beta of 1.52. The stock's 50-day simple moving average is $8.36 and its 200 day simple moving average is $10.71. New Fortress Energy Inc. has a fifty-two week low of $4.72 and a fifty-two week high of $29.11.
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, topping 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 company had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. On average, equities analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS 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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