Cetera Investment Advisers Purchases 110,617 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Cetera Investment Advisers increased its position in New Fortress Energy Inc. (NASDAQ:NFE) by 552.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,650 shares of the company’s stock after acquiring an additional 110,617 shares during the quarter. Cetera Investment Advisers owned about 0.05% of New Fortress Energy worth $1,975,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NFE. Capital World Investors increased its holdings in shares of New Fortress Energy by 87.9% during the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock worth $301,266,000 after purchasing an additional 9,319,985 shares during the period. William Blair Investment Management LLC boosted its position in shares of New Fortress Energy by 40.8% during the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after acquiring an additional 4,509,177 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of New Fortress Energy by 13.6% during the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock valued at $198,027,000 after acquiring an additional 1,564,893 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of New Fortress Energy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock valued at $171,147,000 after acquiring an additional 2,728,191 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in shares of New Fortress Energy during the 4th quarter valued at about $155,023,000. Institutional investors own 58.61% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Christopher S. Guinta bought 5,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 29.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NFE shares. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a research report on Wednesday, March 12th. Citigroup decreased their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley decreased 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 research report on Tuesday, March 4th. BTIG Research set a $8.00 target price on shares of New Fortress Energy and gave the company a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus decreased their target price on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, New Fortress Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

New Fortress Energy Price Performance

NASDAQ:NFE opened at $3.29 on Tuesday. The firm has a market cap of $900.71 million, a PE ratio of 3.62 and a beta of 1.45. New Fortress Energy Inc. has a 12 month low of $2.26 and a 12 month high of $27.65. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The company’s 50-day moving average price is $6.86 and its two-hundred day moving average price is $10.36.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. On average, equities analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

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.