American Assets Capital Advisers LLC Sells 1,137,623 Shares of New Fortress Energy LLC $NFE

Key Points

• American Assets Capital Advisers sold 1,137,623 shares of New Fortress Energy, cutting its stake by 61.2% to 721,483 shares (about 0.26% ownership) worth $2.395 million.
• New Fortress Energy opened at $1.34 with a market cap of $381.3 million, a high debt-to-equity ratio of 5.77 and a negative net margin (-48.94%), trading in a one-year range of $1.17–$16.66.
• Analyst sentiment is mixed but consensus is "Hold" with a $7.88 price target; institutional investors own 58.61% of the stock, led by Vanguard with 13.88 million shares.

American Assets Capital Advisers LLC reduced its stake in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 61.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 721,483 shares of the company's stock after selling 1,137,623 shares during the quarter. New Fortress Energy comprises 2.4% of American Assets Capital Advisers LLC's portfolio, making the stock its 12th biggest position. American Assets Capital Advisers LLC owned 0.26% of New Fortress Energy worth $2,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in New Fortress Energy by 22.6% during the first quarter. Vanguard Group Inc. now owns 13,879,490 shares of the company's stock valued at $115,339,000 after purchasing an additional 2,560,242 shares during the period. Invesco Ltd. grew its holdings in shares of New Fortress Energy by 5.5% in the 1st quarter. Invesco Ltd. now owns 3,465,478 shares of the company's stock valued at $28,798,000 after buying an additional 180,824 shares during the period. Kailix Advisors LLC increased its position in shares of New Fortress Energy by 28.9% in the 1st quarter. Kailix Advisors LLC now owns 1,908,791 shares of the company's stock valued at $15,862,000 after buying an additional 428,470 shares in the last quarter. American Assets Investment Management LLC raised its stake in New Fortress Energy by 888.8% during the 1st quarter. American Assets Investment Management LLC now owns 1,859,106 shares of the company's stock worth $15,449,000 after buying an additional 1,671,094 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in New Fortress Energy by 14.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,679,057 shares of the company's stock worth $13,953,000 after buying an additional 208,225 shares during the period. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Stock Down 4.3%

New Fortress Energy stock opened at $1.34 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 5.77. New Fortress Energy LLC has a 1-year low of $1.17 and a 1-year high of $16.66. The company has a fifty day simple moving average of $1.91 and a 200 day simple moving average of $2.97. The company has a market cap of $381.30 million, a P/E ratio of -0.35 and a beta of 1.20.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its quarterly earnings results on Wednesday, June 18th. The company reported $0.13 EPS for the quarter. The firm had revenue of $679.00 million for the quarter. New Fortress Energy had a negative net margin of 48.94% and a negative return on equity of 22.72%. Research analysts anticipate that New Fortress Energy LLC will post 0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NFE. Capital One Financial restated an "underweight" rating on shares of New Fortress Energy in a report on Monday, September 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of New Fortress Energy in a research note on Tuesday, October 14th. Zacks Research downgraded shares of New Fortress Energy from a "hold" rating to a "strong sell" rating in a report on Monday, October 6th. Finally, Johnson Rice lowered shares of New Fortress Energy from a "buy" rating to a "hold" rating and cut their price target for the company from $7.00 to $4.00 in a research note on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, New Fortress Energy currently has a consensus rating of "Hold" and a consensus price target of $7.88.

New Fortress Energy Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.