Dimensional Fund Advisors LP lessened its holdings in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 29.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 792,393 shares of the company's stock after selling 324,658 shares during the period. Dimensional Fund Advisors LP owned approximately 0.32% of New Fortress Energy worth $11,980,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of NFE. First Trust Advisors LP grew its holdings in shares of New Fortress Energy by 275.7% during the 4th quarter. First Trust Advisors LP now owns 1,315,926 shares of the company's stock worth $19,897,000 after purchasing an additional 965,669 shares in the last quarter. Capital International Investors purchased a new position in shares of New Fortress Energy during the fourth quarter valued at approximately $4,322,000. Capital International Sarl purchased a new position in shares of New Fortress Energy during the fourth quarter valued at approximately $2,408,000. Marshall Wace LLP bought a new stake in New Fortress Energy during the fourth quarter worth $3,663,000. Finally, Gabelli Funds LLC raised its stake in shares of New Fortress Energy by 16.8% in the fourth quarter. Gabelli Funds LLC now owns 90,500 shares of the company's stock valued at $1,368,000 after buying an additional 13,000 shares during the period. Institutional investors own 58.61% of the company's stock.
Wall Street Analyst Weigh In
NFE has been the topic of a number of analyst reports. Citigroup decreased their price objective on 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 cut their price objective on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley lowered their target price on New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a research note on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, New Fortress Energy currently has an average rating of "Moderate Buy" and an average price target of $13.00.
Get Our Latest Stock Report on NFE
Insider Buying and Selling at New Fortress Energy
In other New Fortress Energy news, CFO Christopher S. Guinta acquired 5,000 shares of New Fortress Energy stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, the chief financial officer now directly owns 206,653 shares of the company's stock, valued at approximately $1,771,016.21. This represents a 2.48% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 29.40% of the company's stock.
New Fortress Energy Price Performance
Shares of New Fortress Energy stock traded down $0.27 during trading on Wednesday, reaching $6.78. 7,101,715 shares of the stock traded hands, compared to its average volume of 5,058,937. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 7.45 and a beta of 1.45. The business has a fifty day simple moving average of $7.34 and a two-hundred day simple moving average of $10.50. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. New Fortress Energy Inc. has a 52-week low of $4.72 and a 52-week 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. The company 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%. Sell-side analysts expect 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.
See Also
Before you consider New Fortress Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Fortress Energy wasn't on the list.
While New Fortress Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
