New Fortress Energy Inc. (NASDAQ:NFE) Stake Boosted by Northern Trust Corp

Northern Trust Corp raised its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 66.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 524,244 shares of the company's stock after purchasing an additional 208,497 shares during the period. Northern Trust Corp owned 0.21% of New Fortress Energy worth $7,927,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NFE. Allworth Financial LP grew its holdings in shares of New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after purchasing an additional 1,962 shares during the period. Quarry LP purchased a new stake in New Fortress Energy during the fourth quarter worth approximately $64,000. US Bancorp DE increased its position in shares of New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after acquiring an additional 1,126 shares in the last quarter. KBC Group NV raised its stake in shares of New Fortress Energy by 121.1% in the 4th quarter. KBC Group NV now owns 7,596 shares of the company's stock valued at $115,000 after acquiring an additional 4,160 shares during the period. Finally, Golden State Wealth Management LLC acquired a new position in shares of New Fortress Energy during the 4th quarter valued at $118,000. Hedge funds and other institutional investors own 58.61% of the company's stock.

New Fortress Energy Stock Down 3.0%

NFE stock traded down $0.09 during trading on Friday, reaching $2.73. The stock had a trading volume of 3,071,184 shares, compared to its average volume of 5,867,276. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The firm has a fifty day moving average price of $6.47 and a 200 day moving average price of $10.22. The company has a market capitalization of $746.03 million, a P/E ratio of 3.01 and a beta of 1.45. New Fortress Energy Inc. has a 1-year low of $2.26 and a 1-year high of $26.63.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The business had revenue of $679.00 million for the quarter, compared to analysts' expectations of $613.24 million. On average, equities analysts anticipate that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley decreased their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a research note on Wednesday, March 12th. BTIG Research set a $8.00 target price on New Fortress Energy and gave the company a "buy" rating in a research note on Thursday, May 15th. Citigroup dropped their target price on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Stifel Nicolaus decreased their price target on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $11.83.

Insider Buying and Selling at New Fortress Energy

In related news, CFO Christopher S. Guinta bought 5,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $8.57 per share, with a total value of $42,850.00. Following the transaction, the chief financial officer now owns 206,653 shares of the company's stock, valued at approximately $1,771,016.21. This trade represents a 2.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 29.40% of the stock is currently owned by corporate insiders.

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.