First Trust Advisors LP Has $19.90 Million Stock Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

First Trust Advisors LP grew its position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 275.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,315,926 shares of the company's stock after buying an additional 965,669 shares during the quarter. First Trust Advisors LP owned approximately 0.52% of New Fortress Energy worth $19,897,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of NFE. William Blair Investment Management LLC grew its holdings in New Fortress Energy by 40.8% during the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock worth $235,374,000 after acquiring an additional 4,509,177 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of New Fortress Energy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock valued at $171,147,000 after purchasing an additional 2,728,191 shares in the last quarter. Primecap Management Co. CA raised its position in New Fortress Energy by 13.6% in the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock worth $198,027,000 after purchasing an additional 1,564,893 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new position in New Fortress Energy during the 4th quarter worth $19,618,000. Finally, King Luther Capital Management Corp bought a new position in New Fortress Energy in the 4th quarter valued at $15,120,000. Institutional investors and hedge funds own 58.61% of the company's stock.

Analysts Set New Price Targets

NFE has been the topic of several research reports. Stifel Nicolaus cut their price target on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Citigroup cut 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 research report on Wednesday, April 9th. Morgan Stanley lowered 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. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, New Fortress Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.00.

New Fortress Energy Trading Up 8.7 %

New Fortress Energy stock traded up $0.49 during midday trading on Friday, hitting $6.17. 2,591,923 shares of the stock were exchanged, compared to its average volume of 4,936,564. The stock has a market capitalization of $1.69 billion, a PE ratio of 6.79 and a beta of 1.52. The company has a fifty day simple moving average of $7.89 and a two-hundred day simple moving average of $10.61. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. New Fortress Energy Inc. has a 52 week low of $4.72 and a 52 week high of $29.11.

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

Insider Buying and Selling at New Fortress Energy

In related news, CFO Christopher S. Guinta acquired 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, with a total value of $42,850.00. Following the completion of the transaction, the chief financial officer now directly owns 206,653 shares of the company's stock, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 37.10% of the company's stock.

New Fortress Energy Profile

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.