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

Charles Schwab Investment Management Inc. increased its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 61.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 639,194 shares of the company’s stock after purchasing an additional 242,459 shares during the period. Charles Schwab Investment Management Inc. owned 0.25% of New Fortress Energy worth $9,665,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of NFE. KBC Group NV raised its position in shares of New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after purchasing an additional 1,852 shares during the last quarter. Quest Partners LLC raised its holdings in New Fortress Energy by 209.9% in the 3rd quarter. Quest Partners LLC now owns 35,421 shares of the company’s stock valued at $322,000 after acquiring an additional 23,993 shares during the last quarter. Nicolet Advisory Services LLC acquired a new stake in New Fortress Energy in the 3rd quarter valued at about $104,000. Rockefeller Capital Management L.P. raised its holdings in New Fortress Energy by 77.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 221,477 shares of the company’s stock valued at $2,013,000 after acquiring an additional 96,728 shares during the last quarter. Finally, Capstone Investment Advisors LLC raised its holdings in New Fortress Energy by 138.0% in the 3rd quarter. Capstone Investment Advisors LLC now owns 26,551 shares of the company’s stock valued at $241,000 after acquiring an additional 15,395 shares during the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

Insider Activity

In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price 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 approximately $1,771,016.21. This trade represents a 2.48 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 37.10% of the company’s stock.

New Fortress Energy Stock Up 7.9 %

NFE stock opened at $11.17 on Friday. The firm has a market cap of $3.06 billion, a PE 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 firm’s 50 day moving average price is $12.29 and its 200-day moving average price is $11.35. New Fortress Energy Inc. has a one year low of $7.58 and a one year high of $30.80.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The business had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. On average, equities research analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Wall Street Analyst Weigh In

NFE has been the subject of a number of recent research reports. Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a report on Wednesday, March 12th. Finally, Morgan Stanley cut their price objective on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.00.

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.