New Fortress Energy Inc. (NASDAQ:NFE) is American Assets Capital Advisers LLC’s Largest Position

American Assets Capital Advisers LLC raised its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 56.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,430,812 shares of the company’s stock after purchasing an additional 875,045 shares during the quarter. New Fortress Energy comprises approximately 12.3% of American Assets Capital Advisers LLC’s portfolio, making the stock its biggest position. American Assets Capital Advisers LLC’s holdings in New Fortress Energy were worth $36,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NFE. US Bancorp DE boosted its position in New Fortress Energy by 31.5% during the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after acquiring an additional 1,126 shares during the last quarter. KBC Group NV boosted its holdings in shares of New Fortress Energy by 116.9% during the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after purchasing an additional 1,852 shares during the last quarter. Allworth Financial LP grew its position 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 during the period. GAMMA Investing LLC grew its position 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 during the period. Finally, PNC Financial Services Group Inc. increased its stake in New Fortress Energy by 21.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 16,438 shares of the company’s stock valued at $249,000 after purchasing an additional 2,951 shares during the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

New Fortress Energy Stock Performance

NASDAQ NFE opened at $9.26 on Friday. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. New Fortress Energy Inc. has a 1-year low of $7.58 and a 1-year high of $31.89. The firm has a market capitalization of $2.52 billion, a P/E ratio of 10.18 and a beta of 1.58. The business’s 50-day simple moving average is $12.73 and its 200-day simple moving average is $11.41.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS 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 analysts’ expectations of $613.24 million. Equities analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on NFE. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a report on Wednesday, December 4th. Morgan Stanley lowered 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 report on Tuesday, March 4th. Finally, Stifel Nicolaus dropped 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.60.

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.