Arizona State Retirement System Acquires 11,455 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Arizona State Retirement System increased its position in New Fortress Energy Inc. (NASDAQ:NFE) by 64.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,170 shares of the company’s stock after purchasing an additional 11,455 shares during the quarter. Arizona State Retirement System’s holdings in New Fortress Energy were worth $441,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. KBC Group NV raised its holdings in shares of New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after purchasing an additional 1,852 shares during the period. US Bancorp DE raised its holdings in shares of New Fortress Energy by 344.6% in the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after purchasing an additional 2,767 shares during the period. Allworth Financial LP raised its holdings in shares of New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after purchasing an additional 1,962 shares during the period. GAMMA Investing LLC raised its holdings in shares of New Fortress Energy by 148.5% in the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after purchasing an additional 2,370 shares during the period. Finally, Captrust Financial Advisors acquired a new position in New Fortress Energy in the 3rd quarter valued at about $101,000. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Stock Performance

Shares of NASDAQ:NFE opened at $9.26 on Friday. The company’s 50 day moving average price is $12.73 and its two-hundred day moving average price is $11.42. New Fortress Energy Inc. has a 12-month low of $7.58 and a 12-month high of $31.89. The firm has a market cap of $2.52 billion, a PE ratio of 10.18 and a beta of 1.58. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NFE. Morgan Stanley decreased their price target 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 note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target on the stock in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.60.

Insider Buying and Selling

In other news, CFO Christopher S. Guinta purchased 5,000 shares of New Fortress Energy stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the transaction, the chief financial officer now owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 37.10% of the stock is currently owned by company insiders.

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.