Captrust Financial Advisors Buys New Position in New Fortress Energy Inc. (NASDAQ:NFE)

Captrust Financial Advisors bought a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 11,129 shares of the company’s stock, valued at approximately $101,000.

Other hedge funds also recently added to or reduced their stakes in the company. Primecap Management Co. CA grew its stake in New Fortress Energy by 43.7% during the 3rd quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company’s stock valued at $104,827,000 after purchasing an additional 3,505,975 shares during the last quarter. American Assets Capital Advisers LLC grew its stake in New Fortress Energy by 105.7% during the 3rd quarter. American Assets Capital Advisers LLC now owns 1,555,767 shares of the company’s stock valued at $14,968,000 after purchasing an additional 799,280 shares during the last quarter. William Blair Investment Management LLC grew its stake in New Fortress Energy by 7.1% during the 2nd quarter. William Blair Investment Management LLC now owns 9,549,412 shares of the company’s stock valued at $209,896,000 after purchasing an additional 633,170 shares during the last quarter. HITE Hedge Asset Management LLC grew its stake in New Fortress Energy by 24.1% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 3,192,129 shares of the company’s stock valued at $70,163,000 after purchasing an additional 619,621 shares during the last quarter. Finally, Encompass Capital Advisors LLC grew its stake in New Fortress Energy by 9.0% during the 2nd quarter. Encompass Capital Advisors LLC now owns 4,797,308 shares of the company’s stock valued at $105,445,000 after purchasing an additional 395,740 shares during the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Price Performance

NASDAQ:NFE opened at $11.88 on Tuesday. New Fortress Energy Inc. has a one year low of $7.82 and a one year high of $39.26. 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 stock has a market cap of $2.99 billion, a PE ratio of 13.05 and a beta of 1.60. The stock has a 50 day moving average price of $9.78 and a 200 day moving average price of $14.37.

Analysts Set New Price Targets

Several analysts have weighed in on NFE shares. BTIG Research dropped their price target on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target on the stock in a research report on Wednesday, December 4th. Finally, Morgan Stanley cut New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $35.00 to $15.00 in a report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.33.

Insider Activity at New Fortress Energy

In other New Fortress Energy news, CEO Wesley R. Edens bought 5,793,742 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was bought at an average price of $8.63 per share, with a total value of $49,999,993.46. Following the completion of the purchase, the chief executive officer now directly owns 35,721,915 shares in the company, valued at $308,280,126.45. The trade was a 19.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.