New Fortress Energy Inc. (NASDAQ:NFE) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in New Fortress Energy Inc. (NASDAQ:NFE) by 31.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,317 shares of the company’s stock after acquiring an additional 4,636 shares during the period. Victory Capital Management Inc.’s holdings in New Fortress Energy were worth $292,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Stifel Financial Corp acquired a new stake in shares of New Fortress Energy in the 3rd quarter worth approximately $990,000. Redwood Wealth Management Group LLC acquired a new stake in shares of New Fortress Energy in the 4th quarter worth approximately $749,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of New Fortress Energy in the 4th quarter worth approximately $1,252,000. GSG Advisors LLC acquired a new stake in shares of New Fortress Energy in the 4th quarter worth approximately $605,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of New Fortress Energy in the 4th quarter worth approximately $8,316,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE opened at $11.17 on Friday. New Fortress Energy Inc. has a one year low of $7.58 and a one year high of $30.80. The stock has a market cap of $3.06 billion, a PE ratio of 12.27 and a beta of 1.58. The business’s fifty day moving average price is $12.29 and its two-hundred day moving average price is $11.35. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.

New Fortress Energy (NASDAQ:NFE) last issued 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. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The company had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. On average, analysts forecast that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NFE shares. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a report on Wednesday, March 12th. Morgan Stanley lowered their target price on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 4th. Finally, Stifel Nicolaus lowered their target price on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.00.

Insiders Place Their Bets

In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of New Fortress Energy stock in a transaction on Thursday, March 13th. The shares were bought at an average price 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 $1,771,016.21. This trade represents a 2.48 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 37.10% of the company’s stock.

New Fortress Energy Company 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.