Yaupon Capital Management LP Purchases New Position in New Fortress Energy Inc. (NASDAQ:NFE)

Yaupon Capital Management LP bought a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 569,914 shares of the company's stock, valued at approximately $8,617,000. Yaupon Capital Management LP owned 0.23% of New Fortress Energy at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Capital World Investors grew its stake in New Fortress Energy by 87.9% during the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company's stock valued at $301,266,000 after acquiring an additional 9,319,985 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of 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 valued at $235,374,000 after purchasing an additional 4,509,177 shares in 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 worth $171,147,000 after purchasing an additional 2,728,191 shares during the period. Primecap Management Co. CA raised its position 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 in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in New Fortress Energy during the fourth quarter valued at $19,618,000. Hedge funds and other institutional investors own 58.61% of the company's stock.

Insider Activity

In related news, CFO Christopher S. Guinta acquired 5,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, the chief financial officer now owns 206,653 shares in the company, valued at $1,771,016.21. This trade represents a 2.48 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 37.10% of the company's stock.

New Fortress Energy Price Performance

NFE traded down $0.35 during midday trading on Friday, hitting $5.52. The stock had a trading volume of 5,058,905 shares, compared to its average volume of 4,904,848. New Fortress Energy Inc. has a 1 year low of $4.72 and a 1 year high of $29.11. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The business has a fifty day moving average of $8.36 and a 200 day moving average of $10.73. The company has a market cap of $1.51 billion, a P/E ratio of 6.07 and a beta of 1.52.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.07. The company had revenue of $679.00 million during 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%. As a group, equities analysts forecast that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NFE. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a research note on Wednesday, March 12th. Citigroup decreased their price objective 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. Stifel Nicolaus dropped their target price on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Morgan Stanley cut 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 note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $13.00.

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.