Two Sigma Investments LP lifted its position in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 186.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 170,852 shares of the company's stock after acquiring an additional 111,300 shares during the quarter. Two Sigma Investments LP owned 0.07% of New Fortress Energy worth $2,583,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. Capital World Investors increased its stake in shares of New Fortress Energy by 87.9% in the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company's stock worth $301,266,000 after acquiring an additional 9,319,985 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of New Fortress Energy by 40.8% in the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock valued at $235,374,000 after buying an additional 4,509,177 shares during the period. Primecap Management Co. CA boosted its stake in shares of New Fortress Energy by 13.6% in the fourth quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock worth $198,027,000 after buying an additional 1,564,893 shares during the last quarter. Vanguard Group Inc. grew its holdings in New Fortress Energy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock worth $171,147,000 after acquiring an additional 2,728,191 shares during the period. Finally, Hood River Capital Management LLC acquired a new position in New Fortress Energy in the fourth quarter valued at approximately $155,023,000. 58.61% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other New Fortress Energy news, CFO Christopher S. Guinta acquired 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired 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 directly owns 206,653 shares in the company, valued at approximately $1,771,016.21. This represents a 2.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 29.40% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the stock. Citigroup cut their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Stifel Nicolaus decreased their target price on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of 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 report on Thursday, May 15th. Finally, Morgan Stanley set a $4.00 price objective on New Fortress Energy and gave the stock an "equal weight" rating in a research report on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.17.
Read Our Latest Stock Report on NFE
New Fortress Energy Trading Up 12.3%
Shares of NASDAQ NFE traded up $0.34 during trading on Wednesday, hitting $3.10. 10,466,913 shares of the company traded hands, compared to its average volume of 6,075,175. The firm has a market capitalization of $848.69 million, a P/E ratio of 3.41 and a beta of 1.22. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The company has a 50-day moving average price of $5.07 and a 200-day moving average price of $9.82. New Fortress Energy Inc. has a 1 year low of $2.26 and a 1 year high of $26.22.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating 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 the consensus estimate of $613.24 million. On average, equities analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current year.
New Fortress Energy Company Profile
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Free Report)
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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