Goldman Sachs Group Inc. Grows Stock Holdings in New Fortress Energy LLC $NFE

Key Points

• Goldman Sachs Group Inc. increased its stake in New Fortress Energy LLC by 133.4% to approximately 865,826 shares, valued at $7.19 million.
• New Fortress Energy reported a quarterly loss of ($2.02) EPS, significantly missing analysts' estimates of ($0.64), while its revenue fell 29.5% year-over-year.
• Wall Street analysts have mixed views on New Fortress Energy, with three analysts rating the stock as "Buy", five as "Hold", and one as "Sell", resulting in a consensus target price of $7.88.

Goldman Sachs Group Inc. lifted its stake in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 133.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 865,826 shares of the company's stock after acquiring an additional 494,848 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.32% of New Fortress Energy worth $7,195,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers grew its stake in New Fortress Energy by 552.2% in the fourth quarter. Cetera Investment Advisers now owns 130,650 shares of the company's stock worth $1,975,000 after purchasing an additional 110,617 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of New Fortress Energy by 118.5% in the 1st quarter. Deutsche Bank AG now owns 186,180 shares of the company's stock worth $1,547,000 after buying an additional 100,974 shares during the period. Nuveen LLC bought a new position in shares of New Fortress Energy during the 1st quarter worth $2,692,000. Jump Financial LLC bought a new position in shares of New Fortress Energy during the 1st quarter worth $9,492,000. Finally, Two Sigma Investments LP increased its stake in shares of New Fortress Energy by 186.9% during the fourth quarter. Two Sigma Investments LP now owns 170,852 shares of the company's stock valued at $2,583,000 after buying an additional 111,300 shares during the period. Institutional investors own 58.61% of the company's stock.

New Fortress Energy Trading Down 3.7%

NASDAQ:NFE opened at $1.31 on Monday. The stock has a market capitalization of $372.76 million, a price-to-earnings ratio of -0.34 and a beta of 0.99. New Fortress Energy LLC has a 52 week low of $1.26 and a 52 week high of $16.66. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 5.77. The firm has a 50 day moving average of $2.92 and a 200 day moving average of $4.69.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its quarterly earnings results on Saturday, September 13th. The company reported ($2.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.64) by ($1.38). New Fortress Energy had a negative return on equity of 22.72% and a negative net margin of 48.94%.During the same period last year, the company earned ($0.41) EPS. The firm's quarterly revenue was down 29.5% on a year-over-year basis. As a group, sell-side analysts anticipate that New Fortress Energy LLC will post 0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NFE has been the subject of a number of research reports. BTIG Research lowered shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research note on Thursday, June 26th. Morgan Stanley set a $4.00 price target on shares of New Fortress Energy and gave the company an "equal weight" rating in a report on Tuesday, May 27th. Zacks Research upgraded shares of New Fortress Energy to a "hold" rating in a research note on Monday, August 11th. Compass Point initiated coverage on shares of New Fortress Energy in a report on Tuesday, July 1st. They set a "buy" rating and a $8.50 price objective on the stock. Finally, Johnson Rice downgraded shares of New Fortress Energy from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $7.00 to $4.00 in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently 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.

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