BNP Paribas Financial Markets Buys 25,760 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

BNP Paribas Financial Markets lifted its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 1,114.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,072 shares of the company’s stock after purchasing an additional 25,760 shares during the quarter. BNP Paribas Financial Markets’ holdings in New Fortress Energy were worth $424,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of New Fortress Energy by 2.0% in the 4th quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company’s stock valued at $730,000 after purchasing an additional 935 shares in the last quarter. US Bancorp DE increased its holdings in New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock valued at $71,000 after buying an additional 1,126 shares in the last quarter. Allworth Financial LP lifted its position in shares of 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 buying an additional 1,962 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in New Fortress Energy by 21.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,438 shares of the company’s stock worth $249,000 after buying an additional 2,951 shares during the last quarter. Finally, Pinnacle Holdings LLC grew its holdings in shares of New Fortress Energy by 3.7% during the fourth quarter. Pinnacle Holdings LLC now owns 109,139 shares of the company’s stock worth $1,650,000 after buying an additional 3,934 shares in the last quarter. 58.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at New Fortress Energy

In related news, CFO Christopher S. Guinta bought 5,000 shares of the business’s stock in a transaction on 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 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 represents a 2.48% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 29.40% of the stock is owned by corporate insiders.

New Fortress Energy Stock Down 1.1%

Shares of NASDAQ:NFE opened at $2.78 on Monday. New Fortress Energy Inc. has a 52-week low of $2.26 and a 52-week high of $26.22. The stock’s fifty day simple moving average is $6.33 and its 200-day simple moving average is $10.18. 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 has a market capitalization of $761.09 million, a P/E ratio of 3.05 and a beta of 1.45.

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. As a group, equities research analysts forecast that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NFE has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a research note on Wednesday, March 12th. Citigroup decreased their target price on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Morgan Stanley cut their target price on 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 stock a “buy” rating in a research report on Thursday, May 15th. Finally, Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.83.

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.