Charles Schwab Investment Management Inc. Grows Stake in New Fortress Energy LLC $NFE

Key Points

• Charles Schwab Investment Management Inc. increased its stake in New Fortress Energy by 48.1%, holding approximately $7.87 million in value as of its latest SEC filing.
• Institutional investors now own 58.61% of New Fortress Energy, with several funds significantly increasing their positions during the fourth quarter.
• The company's current stock rating is predominantly "Hold," with a consensus target price of $7.88, reflecting recent downgrades by multiple analysts.

Charles Schwab Investment Management Inc. increased its stake in New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 48.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 946,566 shares of the company's stock after acquiring an additional 307,372 shares during the period. Charles Schwab Investment Management Inc. owned about 0.35% of New Fortress Energy worth $7,866,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in New Fortress Energy by 22.6% during the 1st 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 last quarter. American Assets Investment Management LLC raised its position 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 valued at $15,449,000 after purchasing an additional 1,671,094 shares during the last quarter. Shay Capital LLC bought a new position in New Fortress Energy during the 4th quarter valued at approximately $16,866,000. Schonfeld Strategic Advisors LLC raised its position in New Fortress Energy by 101.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 11,151 shares of the company's stock valued at $169,000 after purchasing an additional 857,711 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in New Fortress Energy during the 1st quarter valued at approximately $5,165,000. Institutional investors own 58.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NFE. Zacks Research upgraded New Fortress Energy to a "hold" rating in a report on Monday, August 11th. Morgan Stanley set a $4.00 target price on New Fortress Energy and gave the stock an "equal weight" rating in a report on Tuesday, May 27th. Johnson Rice downgraded New Fortress Energy from a "buy" rating to a "hold" rating and reduced their target price for the stock from $7.00 to $4.00 in a report on Wednesday, August 13th. New Street Research set a $8.50 target price on New Fortress Energy in a report on Monday, June 30th. Finally, Compass Point began coverage on New Fortress Energy in a report 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $7.88.

New Fortress Energy Price Performance

Shares of New Fortress Energy stock traded down $0.17 during trading on Friday, reaching $2.46. 4,349,525 shares of the stock traded hands, compared to its average volume of 7,889,930. The company has a market capitalization of $674.53 million, a price-to-earnings ratio of -1.09 and a beta of 1.08. The business has a fifty day simple moving average of $3.16 and a two-hundred day simple moving average of $5.45. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.00 and a quick ratio of 0.95. New Fortress Energy LLC has a 52-week low of $2.01 and a 52-week high of $16.66.

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.