Invesco Ltd. trimmed its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,284,654 shares of the company's stock after selling 59,228 shares during the period. Invesco Ltd. owned about 1.31% of New Fortress Energy worth $49,664,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of NFE. Captrust Financial Advisors acquired a new position in New Fortress Energy in the 3rd quarter valued at about $101,000. Stifel Financial Corp acquired a new stake in shares of New Fortress Energy during the third quarter worth $990,000. State Street Corp grew its position in shares of New Fortress Energy by 4.9% in the third quarter. State Street Corp now owns 1,205,046 shares of the company's stock valued at $10,954,000 after purchasing an additional 56,153 shares during the period. M&T Bank Corp purchased a new position in New Fortress Energy during the third quarter worth about $628,000. Finally, 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 buying an additional 12,587 shares during the period. 58.61% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, CFO Christopher S. Guinta acquired 5,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $8.57 per share, with a total value of $42,850.00. Following the acquisition, the chief financial officer now owns 206,653 shares in the company, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 37.10% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a report on Wednesday, March 12th. Morgan Stanley dropped their price target on New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 4th. Citigroup dropped their target price on shares of 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 lowered their price objective on shares of New Fortress Energy from $23.00 to $19.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $13.83.
Get Our Latest Report on NFE
New Fortress Energy Price Performance
Shares of New Fortress Energy stock traded down $0.66 on Monday, hitting $5.03. The company had a trading volume of 1,152,999 shares, compared to its average volume of 4,772,768. New Fortress Energy Inc. has a 52 week low of $4.72 and a 52 week high of $29.11. The company has a market cap of $1.38 billion, a PE ratio of 5.59 and a beta of 1.52. The business has a 50-day simple moving average of $9.04 and a 200-day simple moving average of $10.88. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share 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 during the quarter, compared to analysts' expectations of $613.24 million. Research analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.
New Fortress Energy Profile
(
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.
Further Reading
Before you consider New Fortress Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Fortress Energy wasn't on the list.
While New Fortress Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
