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

Brandywine Global Investment Management LLC bought a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE) during the 4th quarter, HoldingsChannel.com reports. The fund bought 1,297,492 shares of the company’s stock, valued at approximately $19,618,000.

Other large investors have also bought and sold shares of the company. Rockefeller Capital Management L.P. boosted its holdings in New Fortress Energy by 77.5% in the third quarter. Rockefeller Capital Management L.P. now owns 221,477 shares of the company’s stock worth $2,013,000 after acquiring an additional 96,728 shares in the last quarter. Capstone Investment Advisors LLC lifted its holdings in shares of New Fortress Energy by 138.0% in the 3rd quarter. Capstone Investment Advisors LLC now owns 26,551 shares of the company’s stock worth $241,000 after purchasing an additional 15,395 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of New Fortress Energy in the 3rd quarter worth $101,000. Holocene Advisors LP grew its position in New Fortress Energy by 107.2% in the 3rd quarter. Holocene Advisors LP now owns 389,698 shares of the company’s stock valued at $3,542,000 after purchasing an additional 201,649 shares during the period. Finally, Janus Henderson Group PLC increased its stake in New Fortress Energy by 26.7% during the 3rd quarter. Janus Henderson Group PLC now owns 148,185 shares of the company’s stock valued at $1,347,000 after purchasing an additional 31,201 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Price Performance

NFE opened at $8.85 on Monday. The firm’s fifty day moving average price is $11.84 and its two-hundred day moving average price is $11.35. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 9.73 and a beta of 1.58. 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 1 year low of $7.58 and a 1 year high of $30.80.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data 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 business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. As a group, analysts anticipate that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NFE shares. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research note on Wednesday, March 12th. Stifel Nicolaus dropped 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, Morgan Stanley cut their price target 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.00.

Insider Activity

In related news, CFO Christopher S. Guinta purchased 5,000 shares of New Fortress Energy stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the transaction, the chief financial officer now owns 206,653 shares in the company, valued at $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 37.10% of the stock is currently owned by corporate insiders.

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.