Cetera Investment Advisers lifted its position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 552.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,650 shares of the company's stock after purchasing an additional 110,617 shares during the period. Cetera Investment Advisers owned about 0.05% of New Fortress Energy worth $1,975,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in NFE. Allworth Financial LP lifted its stake in shares of New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after acquiring an additional 1,962 shares in the last quarter. Quarry LP purchased a new stake in New Fortress Energy during the 4th quarter worth approximately $64,000. US Bancorp DE raised its position in shares of New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after purchasing an additional 1,126 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of New Fortress Energy in the 4th quarter valued at approximately $91,000. Finally, KBC Group NV boosted its stake in shares of New Fortress Energy by 121.1% during the 4th quarter. KBC Group NV now owns 7,596 shares of the company's stock valued at $115,000 after buying an additional 4,160 shares during the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.
New Fortress Energy Stock Performance
NASDAQ:NFE traded down $0.03 during mid-day trading on Friday, hitting $2.78. The stock had a trading volume of 6,162,232 shares, compared to its average volume of 5,903,966. The stock has a market capitalization of $761.09 million, a price-to-earnings ratio of 3.05 and a beta of 1.45. The company has a 50 day simple moving average of $6.33 and a 200-day simple moving average of $10.18. New Fortress Energy Inc. has a 52 week low of $2.26 and a 52 week high of $26.22. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07. The firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. On average, research analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.
Insiders Place Their Bets
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 acquired at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the acquisition, the chief financial officer now directly owns 206,653 shares of the company's stock, valued at $1,771,016.21. This trade represents a 2.48% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 29.40% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a research note on Wednesday, March 12th. Stifel Nicolaus decreased their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Citigroup decreased their price objective on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. BTIG Research set a $8.00 price objective on shares of New Fortress Energy and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Morgan Stanley decreased their price objective on shares of New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $11.83.
Read Our Latest Stock Analysis on New Fortress Energy
New Fortress Energy 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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