New Fortress Energy Inc. (NASDAQ:NFE) Stock Holdings Increased by KBC Group NV

KBC Group NV raised its holdings in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 116.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,436 shares of the company’s stock after buying an additional 1,852 shares during the period. KBC Group NV’s holdings in New Fortress Energy were worth $31,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. American National Bank purchased a new position in New Fortress Energy in the 2nd quarter worth about $26,000. Quarry LP increased its position in shares of New Fortress Energy by 125.7% in the second quarter. Quarry LP now owns 2,250 shares of the company’s stock worth $49,000 after acquiring an additional 1,253 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of New Fortress Energy during the third quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of New Fortress Energy by 118.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,031 shares of the company’s stock valued at $67,000 after acquiring an additional 1,644 shares in the last quarter. Finally, US Bancorp DE boosted its stake in New Fortress Energy by 344.6% in the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after purchasing an additional 2,767 shares during the period. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Stock Performance

Shares of NFE stock opened at $9.75 on Friday. New Fortress Energy Inc. has a fifty-two week low of $7.82 and a fifty-two week high of $40.04. The stock’s 50-day moving average is $9.30 and its two-hundred day moving average is $16.08. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The firm has a market cap of $2.45 billion, a P/E ratio of 10.71 and a beta of 1.53.

Wall Street Analysts Forecast Growth

NFE has been the topic of several recent analyst reports. Barclays cut their target price on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and issued a $7.60 price objective (down from $21.00) on shares of New Fortress Energy in a research note on Tuesday, October 1st. Morgan Stanley lowered New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. Stifel Nicolaus dropped their target price on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, BTIG Research decreased their price target on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.77.

Insider Activity at New Fortress Energy

In other New Fortress Energy news, CEO Wesley R. Edens acquired 5,793,742 shares of New Fortress Energy stock in a transaction that occurred on Tuesday, October 1st. The stock was acquired at an average price of $8.63 per share, with a total value of $49,999,993.46. Following the purchase, the chief executive officer now owns 35,721,915 shares in the company, valued at approximately $308,280,126.45. This trade represents a 19.36 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.10% of the stock is currently 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.