American Century Companies Inc. Acquires 464,516 Shares of New Fortress Energy LLC $NFE

Key Points

• American Century Companies Inc. increased its stake in New Fortress Energy LLC by 620.1%, purchasing an additional 464,516 shares, bringing its total ownership to 539,426 shares valued at approximately $4.48 million.
• Institutional investors now hold 58.61% of New Fortress Energy's stock, indicating a strong interest from major investment firms.
• The current average rating for New Fortress Energy's stock is a "Hold" with a target price of $7.88, reflecting mixed sentiment among analysts.

American Century Companies Inc. raised its stake in New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 620.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 539,426 shares of the company's stock after buying an additional 464,516 shares during the period. American Century Companies Inc. owned approximately 0.20% of New Fortress Energy worth $4,483,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of New Fortress Energy by 22.6% in the first quarter. Vanguard Group Inc. now owns 13,879,490 shares of the company's stock valued at $115,339,000 after buying an additional 2,560,242 shares in the last quarter. Invesco Ltd. increased its holdings in shares of New Fortress Energy by 5.5% in the first 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 in the last quarter. Kailix Advisors LLC increased its holdings in shares of New Fortress Energy by 28.9% in the first 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 increased its holdings in shares of New Fortress Energy by 888.8% in the first quarter. American Assets Investment Management LLC now owns 1,859,106 shares of the company's stock valued at $15,449,000 after buying an additional 1,671,094 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of New Fortress Energy by 32.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,470,832 shares of the company's stock valued at $22,239,000 after buying an additional 359,421 shares in the last quarter. Institutional investors own 58.61% of the company's stock.

New Fortress Energy Stock Up 3.3%

Shares of NASDAQ NFE traded up $0.08 during mid-day trading on Thursday, reaching $2.38. The company had a trading volume of 800,781 shares, compared to its average volume of 8,891,457. New Fortress Energy LLC has a twelve month low of $2.01 and a twelve month high of $16.66. The company has a debt-to-equity ratio of 4.77, a quick ratio of 0.95 and a current ratio of 1.00. The stock has a market capitalization of $651.22 million, a PE ratio of -1.05 and a beta of 0.99. The stock's 50 day moving average is $3.17 and its 200-day moving average is $5.25.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Zacks Research raised New Fortress Energy to a "hold" rating in a report on Monday, August 11th. New Street Research set a $8.50 price target on New Fortress Energy in a report on Monday, June 30th. Morgan Stanley set a $4.00 target price on shares of New Fortress Energy and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. BTIG Research downgraded shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research note on Thursday, June 26th. Finally, Compass Point started coverage on shares of New Fortress Energy in a research note on Tuesday, July 1st. They set a "buy" rating and a $8.50 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.