Raymond James Financial Inc. Takes Position in New Fortress Energy Inc. (NASDAQ:NFE)

Raymond James Financial Inc. acquired a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 52,033 shares of the company’s stock, valued at approximately $787,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP grew its stake in New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after acquiring an additional 1,962 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of New Fortress Energy by 148.5% during the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after purchasing an additional 2,370 shares during the period. US Bancorp DE increased its position in shares of New Fortress Energy by 31.5% during the 4th quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after purchasing an additional 1,126 shares during the last quarter. KBC Group NV raised its holdings in New Fortress Energy by 121.1% in the 4th quarter. KBC Group NV now owns 7,596 shares of the company’s stock valued at $115,000 after buying an additional 4,160 shares during the period. Finally, Golden State Wealth Management LLC acquired a new position in New Fortress Energy in the fourth quarter valued at about $118,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Wall Street Analyst Weigh In

NFE has been the subject of several research reports. Citigroup dropped their target price on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Morgan Stanley dropped their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus lowered their target price on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

Insider Buying and Selling

In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $8.57 per share, with a total value of $42,850.00. Following the purchase, the chief financial officer now owns 206,653 shares in the company, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 37.10% of the company’s stock.

New Fortress Energy Stock Up 4.0 %

NFE opened at $5.76 on Wednesday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 6.33 and a beta of 1.45. New Fortress Energy Inc. has a one year low of $4.72 and a one year high of $29.11. The business’s fifty day moving average is $7.62 and its two-hundred day moving average is $10.55.

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 return on equity of 15.60% and a net margin of 7.84%. The business had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. Analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal 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.