American Century Companies Inc. Has $1.13 Million Stake in New Fortress Energy Inc. (NASDAQ:NFE)

American Century Companies Inc. reduced its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,910 shares of the company’s stock after selling 4,225 shares during the quarter. American Century Companies Inc.’s holdings in New Fortress Energy were worth $1,133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NFE. William Blair Investment Management LLC grew its holdings 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 period. Primecap Management Co. CA boosted its position in shares of New Fortress Energy by 13.6% during the fourth quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock worth $198,027,000 after purchasing an additional 1,564,893 shares in the last quarter. King Luther Capital Management Corp acquired a new position in shares of New Fortress Energy in the 4th quarter valued at $15,120,000. American Assets Capital Advisers LLC increased its position in shares of New Fortress Energy by 56.2% in the 4th quarter. American Assets Capital Advisers LLC now owns 2,430,812 shares of the company’s stock valued at $36,754,000 after buying an additional 875,045 shares in the last quarter. Finally, Kailix Advisors LLC raised its stake in New Fortress Energy by 73.9% during the 4th quarter. Kailix Advisors LLC now owns 1,480,321 shares of the company’s stock worth $22,382,000 after buying an additional 628,882 shares during the period. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Trading Down 13.0 %

NASDAQ NFE opened at $5.81 on Friday. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 6.38 and a beta of 1.52. New Fortress Energy Inc. has a 52 week low of $4.80 and a 52 week high of $29.46. The stock’s 50 day moving average price is $9.92 and its two-hundred day moving average price is $11.02. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.

New Fortress Energy (NASDAQ:NFE) last announced 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. The business had revenue of $679.00 million for 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, analysts anticipate that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity at New Fortress Energy

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

Analysts Set New Price Targets

NFE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a report on Wednesday, March 12th. Stifel Nicolaus lowered their target price on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Morgan Stanley dropped their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 4th. Finally, Citigroup reduced their price target on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.83.

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.