New Fortress Energy Inc. (NASDAQ:NFE) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its holdings in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 29.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 792,393 shares of the company’s stock after selling 324,658 shares during the period. Dimensional Fund Advisors LP’s holdings in New Fortress Energy were worth $11,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NFE. JPMorgan Chase & Co. grew its stake in shares of New Fortress Energy by 2.0% during the fourth quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company’s stock worth $730,000 after acquiring an additional 935 shares during the last quarter. US Bancorp DE boosted its stake in New Fortress Energy by 31.5% in 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 in the last quarter. Allworth Financial LP grew its position 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 worth $32,000 after purchasing an additional 1,962 shares during the last quarter. GAMMA Investing LLC increased its stake in New Fortress Energy by 148.5% during the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after purchasing an additional 2,370 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of New Fortress Energy by 21.9% in the fourth 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. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NFE shares. Citigroup dropped their price objective on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Morgan Stanley dropped their price target on 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. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a report on Wednesday, March 12th. Finally, Stifel Nicolaus decreased their target price on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Insider Transactions at New Fortress Energy

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

New Fortress Energy Price Performance

Shares of NFE opened at $6.36 on Friday. The business’s 50-day moving average is $7.41 and its two-hundred day moving average is $10.48. The company has a market capitalization of $1.74 billion, a P/E ratio of 6.99 and a beta of 1.45. New Fortress Energy Inc. has a fifty-two week low of $4.72 and a fifty-two week high of $29.11. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Monday, March 3rd. The company reported $0.13 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%. Research analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current 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.