Encompass Capital Advisors LLC Has $87.56 Million Stake in New Fortress Energy Inc. (NASDAQ:NFE)

Encompass Capital Advisors LLC cut its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,791,122 shares of the company’s stock after selling 715,422 shares during the period. New Fortress Energy accounts for 3.4% of Encompass Capital Advisors LLC’s portfolio, making the stock its 2nd largest position. Encompass Capital Advisors LLC owned approximately 2.30% of New Fortress Energy worth $87,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Capital World Investors raised its position in shares of New Fortress Energy by 87.9% during the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock valued at $301,266,000 after acquiring an additional 9,319,985 shares in the last quarter. William Blair Investment Management LLC increased its stake in New Fortress Energy by 40.8% during the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after purchasing an additional 4,509,177 shares during the last quarter. Primecap Management Co. CA grew its position in shares of New Fortress Energy by 13.6% during the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock valued at $198,027,000 after buying an additional 1,564,893 shares during the last quarter. Vanguard Group Inc. raised its stake in New Fortress Energy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock worth $171,147,000 after acquiring an additional 2,728,191 shares during the period. Finally, Hood River Capital Management LLC bought a new position in New Fortress Energy in the fourth quarter worth about $155,023,000. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Stock Performance

Shares of NFE opened at $6.13 on Friday. The firm has a market capitalization of $1.68 billion, a PE ratio of 6.74 and a beta of 1.45. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The firm has a 50-day moving average price of $7.48 and a 200 day moving average price of $10.50. New Fortress Energy Inc. has a 52-week low of $4.72 and a 52-week high of $29.11.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. On average, sell-side analysts anticipate that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on NFE shares. Morgan Stanley lowered their target price 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. Citigroup dropped their target price on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a report on Wednesday, March 12th. Finally, Stifel Nicolaus dropped their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. 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 currently has an average rating of “Moderate Buy” and an average target price of $13.00.

Insider Buying and Selling

In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the transaction, the chief financial officer now owns 206,653 shares in the company, valued at $1,771,016.21. This represents a 2.48 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 37.10% of the stock is owned by corporate insiders.

About New Fortress Energy

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.