American Assets Capital Advisers LLC Has $14.97 Million Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

American Assets Capital Advisers LLC lifted its holdings in New Fortress Energy Inc. (NASDAQ:NFE) by 105.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,555,767 shares of the company’s stock after purchasing an additional 799,280 shares during the period. New Fortress Energy comprises approximately 4.6% of American Assets Capital Advisers LLC’s holdings, making the stock its 9th biggest position. American Assets Capital Advisers LLC owned approximately 0.76% of New Fortress Energy worth $14,968,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Capital World Investors raised its holdings in New Fortress Energy by 1.5% during the first quarter. Capital World Investors now owns 15,182,319 shares of the company’s stock valued at $464,427,000 after acquiring an additional 217,697 shares during the period. William Blair Investment Management LLC raised its stake in New Fortress Energy by 7.1% during the 2nd quarter. William Blair Investment Management LLC now owns 9,549,412 shares of the company’s stock valued at $209,896,000 after purchasing an additional 633,170 shares during the period. Primecap Management Co. CA lifted its holdings in New Fortress Energy by 73.9% in the 2nd quarter. Primecap Management Co. CA now owns 8,026,130 shares of the company’s stock worth $176,414,000 after purchasing an additional 3,410,630 shares in the last quarter. Encompass Capital Advisors LLC boosted its stake in New Fortress Energy by 9.0% in the 2nd quarter. Encompass Capital Advisors LLC now owns 4,797,308 shares of the company’s stock worth $105,445,000 after purchasing an additional 395,740 shares during the period. Finally, HITE Hedge Asset Management LLC grew its holdings in New Fortress Energy by 24.1% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 3,192,129 shares of the company’s stock valued at $70,163,000 after buying an additional 619,621 shares in the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Wesley R. Edens purchased 5,793,742 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were purchased at an average cost of $8.63 per share, with a total value of $49,999,993.46. Following the purchase, the chief executive officer now owns 35,721,915 shares of the company’s stock, valued at $308,280,126.45. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 37.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Morgan Stanley downgraded shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $35.00 to $15.00 in a report on Thursday, October 3rd. BTIG Research decreased their target price on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Stifel Nicolaus cut their price target on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 12th. Barclays decreased their price objective on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “sell” rating and issued a $7.60 target price (down from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.77.

New Fortress Energy Stock Performance

Shares of New Fortress Energy stock traded down $0.65 during midday trading on Tuesday, hitting $9.16. The company had a trading volume of 1,550,549 shares, compared to its average volume of 2,938,489. The company has a fifty day simple moving average of $9.68 and a 200 day simple moving average of $17.15. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 10.78 and a beta of 1.53. The company has a quick ratio of 0.63, a current ratio of 0.72 and a debt-to-equity ratio of 4.38. New Fortress Energy Inc. has a 12-month low of $7.82 and a 12-month high of $40.04.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.50). New Fortress Energy had a net margin of 7.84% and a return on equity of 15.46%. The firm had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $465.52 million. During the same quarter in the previous year, the firm posted $0.58 EPS. The firm’s revenue for the quarter was down 23.7% compared to the same quarter last year. As a group, analysts predict that New Fortress Energy Inc. will post 0.52 earnings per share for the current fiscal year.

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.