New Fortress Energy Inc. (NASDAQ:NFE) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP grew its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 275.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,315,926 shares of the company’s stock after buying an additional 965,669 shares during the quarter. First Trust Advisors LP’s holdings in New Fortress Energy were worth $19,897,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NFE. Allworth Financial LP lifted its position in shares of New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after acquiring an additional 1,962 shares in the last quarter. GAMMA Investing LLC raised its stake in New Fortress Energy by 148.5% during the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after purchasing an additional 2,370 shares during the period. US Bancorp DE lifted its holdings in shares of New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock valued at $71,000 after purchasing an additional 1,126 shares in the last quarter. KBC Group NV boosted its position in shares of New Fortress Energy by 121.1% in the fourth quarter. KBC Group NV now owns 7,596 shares of the company’s stock worth $115,000 after buying an additional 4,160 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in shares of New Fortress Energy during the fourth quarter valued at $118,000. 58.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

NFE has been the subject of several research analyst reports. Citigroup reduced their price objective on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Stifel Nicolaus decreased their price target on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research report on Wednesday, March 12th. Finally, Morgan Stanley decreased their target price 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, New Fortress Energy has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

New Fortress Energy Price Performance

Shares of NFE opened at $5.52 on Friday. 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 firm has a market cap of $1.51 billion, a PE ratio of 6.07 and a beta of 1.52. The firm’s 50 day moving average price is $8.36 and its 200 day moving average price is $10.72. New Fortress Energy Inc. has a twelve month low of $4.72 and a twelve month high of $29.11.

New Fortress Energy (NASDAQ:NFE) last released 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 during the quarter, compared to analyst estimates 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, research analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Christopher S. Guinta purchased 5,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.