MRP Capital Investments LLC Sells 5,000 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

MRP Capital Investments LLC trimmed its position in New Fortress Energy Inc. (NASDAQ:NFE) by 47.6% in the fourth quarter, Holdings Channel reports. The fund owned 5,500 shares of the company’s stock after selling 5,000 shares during the quarter. MRP Capital Investments LLC’s holdings in New Fortress Energy were worth $83,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. KBC Group NV raised its position in New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after purchasing an additional 1,852 shares during the last quarter. Allworth Financial LP raised its position in New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after purchasing an additional 1,962 shares during the last quarter. GAMMA Investing LLC raised its position in New Fortress Energy by 148.5% during the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after purchasing an additional 2,370 shares during the last quarter. US Bancorp DE raised its position in New Fortress Energy by 31.5% during the 4th quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after purchasing an additional 1,126 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in New Fortress Energy during the 3rd quarter worth $101,000. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Stock Performance

Shares of NFE opened at $10.35 on Friday. The company has a market cap of $2.83 billion, a PE ratio of 11.37 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 one year low of $7.58 and a one year high of $31.14. The stock has a 50-day moving average of $12.36 and a 200-day moving average of $11.36.

New Fortress Energy (NASDAQ:NFE) last released its quarterly 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. 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%. On average, equities research analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

NFE has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a report on Wednesday, March 12th. Morgan Stanley decreased their price target on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, March 4th. Finally, Stifel Nicolaus decreased their price target on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.00.

Insiders Place Their Bets

In other news, CFO Christopher S. Guinta bought 5,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.