New Fortress Energy Inc. (NASDAQ:NFE) Stake Raised by Huber Capital Management LLC

Huber Capital Management LLC boosted its holdings in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 44.9% in the 4th quarter, Holdings Channel reports. The fund owned 1,231,644 shares of the company’s stock after acquiring an additional 381,758 shares during the quarter. New Fortress Energy accounts for 3.7% of Huber Capital Management LLC’s holdings, making the stock its 5th largest holding. Huber Capital Management LLC’s holdings in New Fortress Energy were worth $18,622,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. William Blair Investment Management LLC raised its stake in 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 during the last quarter. Vanguard Group Inc. increased its stake 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 during the last quarter. Primecap Management Co. CA grew its holdings 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 worth $198,027,000 after purchasing an additional 1,564,893 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in New Fortress Energy in the 4th quarter valued at $19,618,000. Finally, King Luther Capital Management Corp acquired a new position in New Fortress Energy in the 4th quarter worth $15,120,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on NFE shares. Morgan Stanley lowered 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 note on Tuesday, March 4th. Stifel Nicolaus lowered their price target on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, New Fortress Energy has a consensus rating of “Hold” and a consensus price target of $15.00.

New Fortress Energy Stock Performance

NASDAQ:NFE opened at $8.57 on Thursday. The business has a 50 day moving average of $11.38 and a 200 day moving average of $11.28. 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 $7.20 and a 1-year high of $30.71. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 9.42 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data 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. The business had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. On average, sell-side analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $8.57 per share, with a total value of $42,850.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 37.10% of the stock is owned by company insiders.

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.