New Fortress Energy Inc. (NASDAQ:NFE) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its holdings in New Fortress Energy Inc. (NASDAQ:NFE) by 63.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,200 shares of the company’s stock after buying an additional 77,000 shares during the quarter. Swiss National Bank’s holdings in New Fortress Energy were worth $2,997,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. King Luther Capital Management Corp acquired a new stake in New Fortress Energy in the fourth quarter valued at $15,120,000. Catalyst Capital Advisors LLC acquired a new stake in shares of New Fortress Energy in the fourth quarter valued at about $8,316,000. Charles Schwab Investment Management Inc. boosted its holdings in New Fortress Energy by 61.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 639,194 shares of the company’s stock worth $9,665,000 after buying an additional 242,459 shares in the last quarter. Holocene Advisors LP grew its position in New Fortress Energy by 107.2% during the third 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 period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in New Fortress Energy during the fourth quarter worth about $2,268,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at New Fortress Energy

In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the acquisition, the chief financial officer now 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 37.10% of the stock is owned by insiders.

New Fortress Energy Trading Down 7.0 %

Shares of New Fortress Energy stock opened at $11.07 on Thursday. New Fortress Energy Inc. has a 1 year low of $7.58 and a 1 year high of $30.80. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The business has a 50 day moving average price of $12.12 and a 200 day moving average price of $11.35. The company has a market capitalization of $3.03 billion, a P/E ratio of 12.16 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. The business had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Sell-side analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

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.