13,133 Shares in New Fortress Energy Inc. (NASDAQ:NFE) Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new position in New Fortress Energy Inc. (NASDAQ:NFE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 13,133 shares of the company’s stock, valued at approximately $199,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NFE. Stifel Financial Corp bought a new stake in shares of New Fortress Energy during the 3rd quarter worth $990,000. Redwood Wealth Management Group LLC purchased a new position in shares of New Fortress Energy in the 4th quarter worth about $749,000. Y Intercept Hong Kong Ltd bought a new position in shares of New Fortress Energy during the 4th quarter valued at about $1,252,000. GSG Advisors LLC bought a new stake in New Fortress Energy in the 4th quarter worth approximately $605,000. Finally, Catalyst Capital Advisors LLC bought a new stake in New Fortress Energy in the 4th quarter worth approximately $8,316,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Insider Buying and Selling

In related news, CFO Christopher S. Guinta purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, the chief financial officer now directly owns 206,653 shares in the company, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 37.10% of the stock is currently owned by insiders.

New Fortress Energy Trading Up 8.8 %

Shares of NFE opened at $9.26 on Friday. The stock has a market capitalization of $2.52 billion, a P/E ratio of 10.18 and a beta of 1.58. New Fortress Energy Inc. has a twelve month low of $7.58 and a twelve month high of $31.89. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The firm has a fifty day simple moving average of $12.73 and a two-hundred day simple moving average of $11.42.

New Fortress Energy (NASDAQ:NFE) last posted its 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. The company had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. On average, research analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. 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. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus reduced their price objective on 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, New Fortress Energy presently has a consensus rating of “Hold” and an average price target of $15.60.

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.