Citizens Financial Group Inc. RI Boosts Stock Position in New Fortress Energy LLC $NFE

Citizens Financial Group Inc. RI grew its holdings in New Fortress Energy LLC (NASDAQ:NFE) by 539.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,779 shares of the company’s stock after purchasing an additional 170,231 shares during the period. Citizens Financial Group Inc. RI’s holdings in New Fortress Energy were worth $670,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NFE. Teacher Retirement System of Texas purchased a new position in New Fortress Energy in the 1st quarter worth about $130,000. Bank of New York Mellon Corp raised its stake in shares of New Fortress Energy by 9.9% during the first quarter. Bank of New York Mellon Corp now owns 228,326 shares of the company’s stock valued at $1,897,000 after acquiring an additional 20,620 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of New Fortress Energy by 201.8% during the first quarter. New York State Common Retirement Fund now owns 221,051 shares of the company’s stock valued at $1,837,000 after acquiring an additional 147,800 shares in the last quarter. CWM LLC boosted its holdings in shares of New Fortress Energy by 46.9% in the first quarter. CWM LLC now owns 9,065 shares of the company’s stock valued at $75,000 after purchasing an additional 2,895 shares during the period. Finally, Victory Capital Management Inc. grew its stake in New Fortress Energy by 11.2% in the first quarter. Victory Capital Management Inc. now owns 21,474 shares of the company’s stock worth $178,000 after purchasing an additional 2,157 shares in the last quarter. 58.61% of the stock is owned by hedge funds and other institutional investors.

New Fortress Energy Stock Performance

Shares of New Fortress Energy stock opened at $1.13 on Wednesday. The company has a market capitalization of $321.54 million, a PE ratio of -0.30 and a beta of 1.20. The company has a 50-day simple moving average of $1.78 and a two-hundred day simple moving average of $2.72. New Fortress Energy LLC has a one year low of $0.98 and a one year high of $16.66. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.64 and a current ratio of 0.67.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Wednesday, June 18th. The company reported $0.13 EPS for the quarter. New Fortress Energy had a negative net margin of 48.94% and a negative return on equity of 22.72%. The firm had revenue of $679.00 million during the quarter. Research analysts expect that New Fortress Energy LLC will post 0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NFE has been the subject of several research reports. Capital One Financial reiterated an “underweight” rating on shares of New Fortress Energy in a report on Monday, September 8th. Johnson Rice cut shares of New Fortress Energy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $7.00 to $4.00 in a report on Wednesday, August 13th. Zacks Research lowered shares of New Fortress Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of New Fortress Energy in a research note on Tuesday, October 14th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, New Fortress Energy has an average rating of “Hold” and a consensus target price of $7.88.

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.