New Fortress Energy Inc. (NASDAQ:NFE) Stock Position Raised by Primecap Management Co. CA

Primecap Management Co. CA lifted its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 13.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,096,998 shares of the company’s stock after acquiring an additional 1,564,893 shares during the quarter. Primecap Management Co. CA owned about 0.05% of New Fortress Energy worth $198,027,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NFE. KBC Group NV boosted its stake in shares of New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after acquiring an additional 1,852 shares in the last quarter. US Bancorp DE lifted its holdings in shares of New Fortress Energy by 344.6% in the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after purchasing an additional 2,767 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after purchasing an additional 1,962 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of New Fortress Energy by 148.5% in the fourth 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 in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in shares of New Fortress Energy in the third quarter valued at $101,000. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE opened at $9.99 on Tuesday. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. New Fortress Energy Inc. has a 1 year low of $7.58 and a 1 year high of $31.89. The business has a fifty day simple moving average of $12.62 and a 200 day simple moving average of $11.39. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 10.98 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last posted its 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 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. As a group, sell-side analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

NFE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a report on Wednesday, December 4th. Morgan Stanley reduced 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. Finally, Stifel Nicolaus reduced their target price on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.60.

Insiders Place Their Bets

In related news, CFO Christopher S. Guinta purchased 5,000 shares of New Fortress Energy 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 transaction, the chief financial officer now directly owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 37.10% of the company’s stock.

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.