Charles Schwab Investment Management Inc. Acquires 307,372 Shares of 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 disclosure with the Securities and Exchange Commission. The fund owned 946,566 shares of the company's stock after buying 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in New Fortress Energy by 2.0% during the fourth quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company's stock valued at $730,000 after purchasing an additional 935 shares during the last quarter. Victory Capital Management Inc. increased its stake in New Fortress Energy by 11.2% during the first quarter. Victory Capital Management Inc. now owns 21,474 shares of the company's stock valued at $178,000 after purchasing an additional 2,157 shares during the last quarter. Deutsche Bank AG increased its stake in New Fortress Energy by 3.0% during the fourth quarter. Deutsche Bank AG now owns 85,206 shares of the company's stock valued at $1,288,000 after purchasing an additional 2,463 shares during the last quarter. CWM LLC increased its stake in New Fortress Energy by 46.9% during the first quarter. CWM LLC now owns 9,065 shares of the company's stock valued at $75,000 after purchasing an additional 2,895 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in New Fortress Energy by 31.0% during the first quarter. Brown Advisory Inc. now owns 13,100 shares of the company's stock valued at $109,000 after purchasing an additional 3,100 shares during the last quarter. Institutional investors own 58.61% of the company's stock.

New Fortress Energy Stock Down 6.5%

NASDAQ:NFE traded down $0.17 during mid-day trading on Friday, reaching $2.46. The stock had a trading volume of 4,349,525 shares, compared to its average volume of 7,526,971. The business's 50 day moving average is $3.16 and its 200 day moving average is $5.36. New Fortress Energy LLC has a fifty-two week low of $2.01 and a fifty-two week high of $16.66. The stock has a market cap of $674.53 million, a P/E ratio of -1.09 and a beta of 0.99. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.00 and a quick ratio of 0.95.

Wall Street Analysts Forecast Growth

NFE has been the subject of several recent research reports. Johnson Rice lowered shares of New Fortress Energy from a "buy" rating to a "hold" rating and lowered their target price for the company from $7.00 to $4.00 in a research note on Wednesday, August 13th. Zacks Research upgraded shares of New Fortress Energy to a "hold" rating in a research report on Monday, August 11th. Compass Point began coverage on shares of New Fortress Energy in a research report on Tuesday, July 1st. They set a "buy" rating and a $8.50 price target for the company. BTIG Research lowered shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, June 26th. Finally, New Street Research set a $8.50 price target on shares of New Fortress Energy in a research report on Monday, June 30th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $7.88.

About New Fortress Energy

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.