William Blair Investment Management LLC Has $235.37 Million Stake in New Fortress Energy Inc. (NASDAQ:NFE)

William Blair Investment Management LLC raised its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 40.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 15,567,055 shares of the company’s stock after purchasing an additional 4,509,177 shares during the period. William Blair Investment Management LLC owned approximately 6.19% of New Fortress Energy worth $235,374,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NFE. Primecap Management Co. CA boosted its stake in shares of New Fortress Energy by 43.7% in the 3rd quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company’s stock worth $104,827,000 after buying an additional 3,505,975 shares during the last quarter. American Assets Capital Advisers LLC boosted its stake in shares of New Fortress Energy by 56.2% in the 4th quarter. American Assets Capital Advisers LLC now owns 2,430,812 shares of the company’s stock worth $36,754,000 after buying an additional 875,045 shares during the last quarter. Kailix Advisors LLC boosted its stake in shares of New Fortress Energy by 73.9% in the 4th quarter. Kailix Advisors LLC now owns 1,480,321 shares of the company’s stock worth $22,382,000 after buying an additional 628,882 shares during the last quarter. State Street Corp boosted its stake in shares of New Fortress Energy by 4.9% in the 3rd quarter. State Street Corp now owns 1,205,046 shares of the company’s stock worth $10,954,000 after buying an additional 56,153 shares during the last quarter. Finally, King Luther Capital Management Corp purchased a new position in shares of New Fortress Energy in the 4th quarter worth approximately $15,120,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price on the stock in a research note on Wednesday, December 4th. Stifel Nicolaus lowered 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 report on Tuesday, March 4th. Finally, Morgan Stanley lowered 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 report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.60.

Insider Buying and Selling at New Fortress Energy

In other news, CFO Christopher S. Guinta purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 37.10% of the company’s stock.

New Fortress Energy Trading Up 8.8 %

Shares of NFE stock opened at $9.26 on Monday. The company’s fifty day simple moving average is $12.73 and its two-hundred day simple moving average is $11.41. 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 $31.89. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 10.18 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $613.24 million. As a group, analysts anticipate that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

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.