PNC Financial Services Group Inc. Has $249,000 Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

PNC Financial Services Group Inc. boosted its position in New Fortress Energy Inc. (NASDAQ:NFE) by 21.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,438 shares of the company’s stock after buying an additional 2,951 shares during the quarter. PNC Financial Services Group Inc.’s holdings in New Fortress Energy were worth $249,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV grew its position in New Fortress Energy by 116.9% in 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. Allworth Financial LP grew its position in New Fortress Energy by 2,156.0% in 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 boosted its position in shares of 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 acquiring an additional 2,370 shares in the last quarter. US Bancorp DE boosted its position in shares of New Fortress Energy by 31.5% during the 4th quarter. US Bancorp DE now owns 4,696 shares of the company’s stock valued at $71,000 after acquiring an additional 1,126 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of New Fortress Energy during the 3rd quarter valued at about $101,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Trading Up 7.9 %

Shares of NASDAQ NFE opened at $11.17 on Friday. New Fortress Energy Inc. has a 1-year low of $7.58 and a 1-year high of $30.80. The company has a market cap of $3.06 billion, a PE ratio of 12.27 and a beta of 1.58. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The company has a 50-day moving average of $12.29 and a two-hundred day moving average of $11.35.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. As a group, equities analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley decreased their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 4th. Stifel Nicolaus decreased their target price on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a report on Wednesday, March 12th. 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.com, the stock presently has an average rating of “Hold” and an average price target of $15.00.

Insiders Place Their Bets

In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, the chief financial officer now directly owns 206,653 shares in the company, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 37.10% of the company’s stock.

New Fortress Energy 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.