Interval Partners LP acquired a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 96,066 shares of the company's stock, valued at approximately $1,453,000.
A number of other hedge funds also recently made changes to their positions in NFE. Franklin Resources Inc. grew its stake in New Fortress Energy by 8.5% during the third quarter. Franklin Resources Inc. now owns 161,095 shares of the company's stock worth $1,555,000 after purchasing an additional 12,587 shares during the period. GAMMA Investing LLC grew its stake in New Fortress Energy by 148.5% during the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock worth $60,000 after purchasing an additional 2,370 shares during the period. GSG Advisors LLC acquired a new stake in New Fortress Energy during the fourth quarter worth approximately $605,000. Oak Thistle LLC acquired a new stake in New Fortress Energy during the fourth quarter worth approximately $198,000. Finally, Arkadios Wealth Advisors acquired a new stake in New Fortress Energy during the fourth quarter worth approximately $151,000. 58.61% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, CFO Christopher S. Guinta bought 5,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the purchase, the chief financial officer now directly owns 206,653 shares in the company, valued at $1,771,016.21. This trade represents a 2.48% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 37.10% of the company's stock.
New Fortress Energy Price Performance
Shares of NASDAQ NFE opened at $6.36 on Monday. The firm has a market capitalization of $1.74 billion, a P/E ratio of 6.99 and a beta of 1.45. 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 stock's 50-day simple moving average is $7.41 and its two-hundred day simple moving average is $10.51. New Fortress Energy Inc. has a twelve month low of $4.72 and a twelve month high of $29.11.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. The firm had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. As a group, equities analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Stifel Nicolaus decreased their price objective 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. Morgan Stanley decreased their price objective on New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a report on Wednesday, March 12th. Finally, Citigroup decreased their price objective on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.00.
Check Out Our Latest Stock Report on New Fortress Energy
About New Fortress Energy
(
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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