New York State Common Retirement Fund Increases Stake in New Fortress Energy Inc. (NASDAQ:NFE)

New York State Common Retirement Fund raised its holdings in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 14.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,251 shares of the company’s stock after purchasing an additional 9,200 shares during the quarter. New York State Common Retirement Fund’s holdings in New Fortress Energy were worth $1,108,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. KBC Group NV grew its holdings in New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after buying an additional 1,852 shares in the last quarter. US Bancorp DE lifted 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 in the last quarter. Allworth Financial LP grew 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 purchasing an additional 1,962 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after purchasing an additional 2,370 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in shares of New Fortress Energy in the third quarter worth $101,000. Institutional investors own 58.61% of the company’s stock.

New Fortress Energy Trading Down 9.6 %

NASDAQ NFE opened at $9.04 on Tuesday. The stock’s 50-day simple moving average is $13.75 and its two-hundred day simple moving average is $11.63. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 9.93 and a beta of 1.49. New Fortress Energy Inc. has a twelve month low of $7.82 and a twelve month high of $34.40. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. Research analysts forecast that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on NFE. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a research report on Wednesday, December 4th. Stifel Nicolaus upped their price objective on shares of New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.40.

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.