Huber Capital Management LLC Has $12.64 Million Holdings in New Fortress Energy LLC $NFE

Key Points

• Huber Capital Management LLC has increased its stake in New Fortress Energy LLC by 23.5%, now holding a total of 1,520,603 shares, which represents 2.4% of its portfolio.
• Other hedge funds, such as Gabelli Funds LLC and FORA Capital LLC, have also adjusted their positions in New Fortress Energy, reflecting significant institutional interest in the company, which is 58.61% owned by institutional investors.
• Current analyst consensus rates New Fortress Energy as a "Hold" with an average price target of $7.88, following several recent upgrades and downgrades from various research firms.

Huber Capital Management LLC grew its position in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 23.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,520,603 shares of the company's stock after buying an additional 288,959 shares during the quarter. New Fortress Energy makes up about 2.4% of Huber Capital Management LLC's investment portfolio, making the stock its 14th largest holding. Huber Capital Management LLC owned approximately 0.56% of New Fortress Energy worth $12,636,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new stake in shares of New Fortress Energy during the 4th quarter valued at about $64,000. Ancora Advisors LLC acquired a new stake in shares of New Fortress Energy during the 4th quarter valued at about $91,000. US Bancorp DE lifted its holdings in shares of New Fortress Energy by 81.7% during the 1st quarter. US Bancorp DE now owns 8,534 shares of the company's stock valued at $71,000 after buying an additional 3,838 shares during the last quarter. CWM LLC lifted its holdings in shares of New Fortress Energy by 46.9% during the 1st quarter. CWM LLC now owns 9,065 shares of the company's stock valued at $75,000 after buying an additional 2,895 shares during the last quarter. Finally, Hardin Capital Partners LLC acquired a new stake in New Fortress Energy in the 1st quarter worth approximately $83,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NFE has been the subject of several analyst reports. 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 lowered 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. BTIG Research lowered New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday, June 26th. Finally, Zacks Research upgraded New Fortress Energy to a "hold" rating in a report on Monday, August 11th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $7.88.

New Fortress Energy Stock Performance

Shares of NFE stock traded down $0.17 during trading hours on Friday, reaching $2.46. 4,349,525 shares of the company's stock were exchanged, compared to its average volume of 7,889,930. 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 capitalization of $674.53 million, a P/E ratio of -1.09 and a beta of 1.08. The business has a fifty day moving average price of $3.16 and a 200-day moving average price of $5.40. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 4.77.

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.