Brandywine Global Investment Management LLC Purchases New Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Brandywine Global Investment Management LLC acquired a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,297,492 shares of the company’s stock, valued at approximately $19,618,000. Brandywine Global Investment Management LLC owned 0.52% of New Fortress Energy at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Pictet Asset Management Holding SA bought a new position in shares of New Fortress Energy in the fourth quarter worth $354,000. Norges Bank acquired a new stake in New Fortress Energy during the fourth quarter worth about $10,135,000. JPMorgan Chase & Co. increased its holdings in New Fortress Energy by 2.0% in the 4th quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company’s stock valued at $730,000 after buying an additional 935 shares during the period. Cruiser Capital Advisors LLC bought a new position in New Fortress Energy in the 4th quarter valued at about $3,552,000. Finally, Vanguard Group Inc. raised its position in shares of New Fortress Energy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock valued at $171,147,000 after buying an additional 2,728,191 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Trading Down 4.6 %

NFE opened at $8.85 on Monday. The company’s 50 day moving average price is $11.84 and its two-hundred day moving average price is $11.35. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 9.73 and a beta of 1.58. New Fortress Energy Inc. has a fifty-two week low of $7.58 and a fifty-two week high of $30.80. 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 (NASDAQ:NFE) last posted its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. As a group, research analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NFE shares. Morgan Stanley cut their target price on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Stifel Nicolaus lowered their price target on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.00.

Insider Activity

In other news, CFO Christopher S. Guinta acquired 5,000 shares of New Fortress Energy stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $8.57 per share, with a total value of $42,850.00. Following the purchase, the chief financial officer now owns 206,653 shares in the company, valued at $1,771,016.21. This trade represents a 2.48 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 37.10% of the company’s stock.

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.