Voya Investment Management LLC lifted its holdings in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 6,417.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,307,455 shares of the company's stock after buying an additional 1,287,393 shares during the period. Voya Investment Management LLC owned approximately 0.52% of New Fortress Energy worth $19,769,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of NFE. Allworth Financial LP boosted 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 last quarter. GAMMA Investing LLC boosted 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 buying an additional 2,370 shares during the last quarter. US Bancorp DE grew its holdings in New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after buying an additional 1,126 shares in the last quarter. KBC Group NV increased 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 worth $115,000 after acquiring an additional 4,160 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of New Fortress Energy in the fourth quarter valued at about $118,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other New Fortress Energy news, CFO Christopher S. Guinta acquired 5,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $8.57 per share, with a total value of $42,850.00. Following the purchase, the chief financial officer now directly owns 206,653 shares in the company, valued at approximately $1,771,016.21. This trade represents a 2.48 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 37.10% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a report on Wednesday, March 12th. Morgan Stanley lowered their price objective on 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. Stifel Nicolaus reduced 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. Finally, Citigroup lowered their price target 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 analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, New Fortress Energy presently has a consensus rating of "Moderate Buy" and an average price target of $13.00.
View Our Latest Research Report on NFE
New Fortress Energy Stock Up 7.7 %
Shares of NASDAQ NFE traded up $0.44 during midday trading on Friday, hitting $6.12. 3,344,055 shares of the company's stock were exchanged, compared to its average volume of 4,939,263. The firm's fifty day simple moving average is $7.89 and its 200-day simple moving average is $10.61. The company has a market cap of $1.67 billion, a PE ratio of 6.72 and a beta of 1.52. New Fortress Energy Inc. has a twelve month low of $4.72 and a twelve month high of $29.11. 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The business had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. Research analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.
New Fortress Energy 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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