Citizens Financial Group Inc. RI Invests $199,000 in New Fortress Energy Inc. (NASDAQ:NFE)

Citizens Financial Group Inc. RI purchased a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 13,133 shares of the company’s stock, valued at approximately $199,000.

Several other hedge funds have also bought and sold shares of NFE. KBC Group NV raised its position in shares of New Fortress Energy by 116.9% in the 3rd 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. US Bancorp DE increased its stake in New Fortress Energy by 344.6% during the 3rd 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 raised its holdings in New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after buying an additional 1,962 shares during the last quarter. GAMMA Investing LLC lifted its stake 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 worth $60,000 after buying an additional 2,370 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in shares of New Fortress Energy during the third quarter valued at approximately $101,000. Institutional investors own 58.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NFE. Morgan Stanley decreased their price objective 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. Stifel Nicolaus dropped their price objective on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, New Fortress Energy 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 acquired 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 directly owns 206,653 shares in the company, valued at $1,771,016.21. This represents a 2.48 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 37.10% of the company’s stock.

New Fortress Energy Stock Performance

NFE stock opened at $9.26 on Friday. The company has a market cap of $2.52 billion, a P/E ratio of 10.18 and a beta of 1.58. 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 stock’s fifty day moving average price is $12.73 and its 200-day moving average price is $11.42.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. The firm 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%. On average, equities analysts forecast that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

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.