New Fortress Energy Inc. (NASDAQ:NFE) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 61.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 639,194 shares of the company’s stock after acquiring an additional 242,459 shares during the period. Charles Schwab Investment Management Inc.’s holdings in New Fortress Energy were worth $9,665,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NFE. SBI Securities Co. Ltd. acquired a new stake in New Fortress Energy in the 4th quarter valued at about $521,000. US Bancorp DE raised its position in New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company’s stock valued at $71,000 after purchasing an additional 1,126 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in New Fortress Energy in the 4th quarter valued at about $1,252,000. Delta Financial Group Inc. acquired a new stake in New Fortress Energy in the 4th quarter valued at about $183,000. Finally, New York State Common Retirement Fund raised its position in New Fortress Energy by 14.4% in the 4th quarter. New York State Common Retirement Fund now owns 73,251 shares of the company’s stock valued at $1,108,000 after purchasing an additional 9,200 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

Insider Buying and Selling

In related news, CFO Christopher S. Guinta bought 5,000 shares of the 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 purchase, the chief financial officer now owns 206,653 shares of the company’s stock, valued at $1,771,016.21. This trade represents a 2.48 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 37.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on NFE. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a research report on Wednesday, March 12th. Morgan Stanley dropped their price objective on 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, Stifel Nicolaus dropped their price objective 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.00.

New Fortress Energy Trading Up 7.9 %

NFE opened at $11.17 on Friday. New Fortress Energy Inc. has a one year low of $7.58 and a one year high of $30.80. The company has a market cap of $3.06 billion, a P/E ratio of 12.27 and a beta of 1.58. 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 business’s 50-day simple moving average is $12.29 and its 200-day simple moving average is $11.35.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. As a group, equities research analysts expect 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.