King Luther Capital Management Corp Invests $15.12 Million in New Fortress Energy Inc. (NASDAQ:NFE)

King Luther Capital Management Corp purchased a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,000,000 shares of the company’s stock, valued at approximately $15,120,000. King Luther Capital Management Corp owned about 0.40% of New Fortress Energy as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Citizens Financial Group Inc. RI bought a new position in shares of New Fortress Energy during the fourth quarter valued at approximately $199,000. PNC Financial Services Group Inc. increased its position in shares of New Fortress Energy by 21.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,438 shares of the company’s stock valued at $249,000 after buying an additional 2,951 shares during the period. Raymond James Financial Inc. bought a new position in New Fortress Energy in the fourth quarter worth about $787,000. Arizona State Retirement System lifted its holdings in New Fortress Energy by 64.7% in the fourth quarter. Arizona State Retirement System now owns 29,170 shares of the company’s stock worth $441,000 after buying an additional 11,455 shares during the period. Finally, Victory Capital Management Inc. boosted its position in New Fortress Energy by 31.6% during the 4th quarter. Victory Capital Management Inc. now owns 19,317 shares of the company’s stock valued at $292,000 after acquiring an additional 4,636 shares in the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Stock Performance

Shares of New Fortress Energy stock opened at $9.26 on Wednesday. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 10.18 and a beta of 1.58. New Fortress Energy Inc. has a 1 year low of $7.82 and a 1 year high of $33.22. The firm’s 50-day moving average is $13.15 and its 200 day moving average is $11.49.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07. The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. Sell-side analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Stifel Nicolaus lowered their target price on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Morgan Stanley reduced their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective on the stock in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, New Fortress Energy has an average rating of “Hold” and an average price target of $15.60.

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.