US Bancorp DE Increases Stock Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

US Bancorp DE boosted its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 31.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,696 shares of the company’s stock after acquiring an additional 1,126 shares during the quarter. US Bancorp DE’s holdings in New Fortress Energy were worth $71,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Primecap Management Co. CA grew its position in shares of New Fortress Energy by 43.7% in the third 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 period. Catalyst Capital Advisors LLC acquired a new stake in New Fortress Energy in the 4th quarter worth about $8,316,000. Holocene Advisors LP boosted its holdings in New Fortress Energy by 107.2% in the 3rd quarter. Holocene Advisors LP now owns 389,698 shares of the company’s stock worth $3,542,000 after buying an additional 201,649 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in New Fortress Energy during the 4th quarter worth approximately $2,268,000. Finally, Stifel Financial Corp acquired a new position in shares of New Fortress Energy during the third quarter valued at approximately $990,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Stock Performance

NASDAQ NFE opened at $9.99 on Tuesday. 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’s fifty day moving average is $12.62 and its two-hundred day moving average is $11.39. The firm has a market capitalization of $2.72 billion, a P/E ratio of 10.98 and a beta of 1.58. New Fortress Energy Inc. has a fifty-two week low of $7.58 and a fifty-two week high of $31.89.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly 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 net margin of 7.84% and a return on equity of 15.60%. The firm had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $613.24 million. On average, research analysts anticipate that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Morgan Stanley lowered 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 note on Tuesday, March 4th. Stifel Nicolaus dropped their target price on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.60.

Insider Buying and Selling at New Fortress Energy

In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of the business’s stock in a transaction on 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 purchase, the chief financial officer now directly owns 206,653 shares in the company, valued at $1,771,016.21. The trade was a 2.48 % 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. 37.10% of the stock is currently owned by company insiders.

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.