New Fortress Energy Inc. (NASDAQ:NFE) is Encompass Capital Advisors LLC’s 2nd Largest Position

Encompass Capital Advisors LLC lessened its holdings in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 11.0% during the 4th quarter, HoldingsChannel reports. The fund owned 5,791,122 shares of the company’s stock after selling 715,422 shares during the period. New Fortress Energy accounts for approximately 3.4% of Encompass Capital Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Encompass Capital Advisors LLC’s holdings in New Fortress Energy were worth $87,562,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Brandywine Global Investment Management LLC acquired a new position in New Fortress Energy in the 4th quarter worth about $19,618,000. Raymond James Financial Inc. bought a new stake in shares of New Fortress Energy in the 4th quarter valued at approximately $787,000. Norges Bank acquired a new position in New Fortress Energy in the fourth quarter worth approximately $10,135,000. Huber Capital Management LLC raised its position in New Fortress Energy by 44.9% during the fourth quarter. Huber Capital Management LLC now owns 1,231,644 shares of the company’s stock valued at $18,622,000 after acquiring an additional 381,758 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in New Fortress Energy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock valued at $171,147,000 after acquiring an additional 2,728,191 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

Insider Buying and Selling at New Fortress Energy

In related news, CFO Christopher S. Guinta acquired 5,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the purchase, the chief financial officer now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 37.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Citigroup dropped their price target on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley cut their target price on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus lowered their price objective on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

New Fortress Energy Stock Up 3.0 %

NFE stock opened at $6.13 on Friday. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 6.74 and a beta of 1.45. The company has a 50-day moving average of $7.48 and a two-hundred day moving average of $10.50. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. New Fortress Energy Inc. has a 52-week low of $4.72 and a 52-week high of $29.11.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) 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%. The company had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. As a group, equities research analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current year.

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.