King Luther Capital Management Corp Takes $15.12 Million Position in New Fortress Energy Inc. (NASDAQ:NFE)

King Luther Capital Management Corp bought a new position in New Fortress Energy Inc. (NASDAQ:NFE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,000,000 shares of the company’s stock, valued at approximately $15,120,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KBC Group NV lifted its holdings 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 valued at $31,000 after buying an additional 1,852 shares during the period. US Bancorp DE increased its position in New Fortress Energy by 344.6% during the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after acquiring an additional 2,767 shares during the last quarter. Allworth Financial LP increased its position in New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after acquiring an additional 1,962 shares during the last quarter. GAMMA Investing LLC lifted its holdings in New Fortress Energy by 148.5% in the fourth 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 during the period. Finally, Captrust Financial Advisors purchased a new position in New Fortress Energy in the third quarter worth about $101,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NFE shares. Morgan Stanley lowered their price objective on shares of 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. Stifel Nicolaus decreased their price target 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 raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, New Fortress Energy has a consensus rating of “Hold” and a consensus target price of $15.60.

New Fortress Energy Trading Up 3.1 %

New Fortress Energy stock opened at $9.26 on Wednesday. New Fortress Energy Inc. has a 12-month low of $7.82 and a 12-month high of $33.22. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 10.18 and a beta of 1.58. The firm has a 50 day moving average of $13.15 and a 200 day moving average of $11.49. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data 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 net margin of 7.84% and a return on equity of 15.60%. The firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. As a group, research analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

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.