Samalin Investment Counsel LLC Acquires New Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Samalin Investment Counsel LLC acquired a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,420 shares of the company’s stock, valued at approximately $188,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFE. William Blair Investment Management LLC grew its holdings in New Fortress Energy by 40.8% during the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after purchasing an additional 4,509,177 shares during the last quarter. Primecap Management Co. CA grew its holdings in New Fortress Energy by 13.6% during the fourth quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock valued at $198,027,000 after purchasing an additional 1,564,893 shares during the last quarter. American Assets Capital Advisers LLC grew its holdings in New Fortress Energy by 56.2% during the fourth quarter. American Assets Capital Advisers LLC now owns 2,430,812 shares of the company’s stock valued at $36,754,000 after purchasing an additional 875,045 shares during the last quarter. Kailix Advisors LLC grew its holdings in New Fortress Energy by 73.9% during the fourth quarter. Kailix Advisors LLC now owns 1,480,321 shares of the company’s stock valued at $22,382,000 after purchasing an additional 628,882 shares during the last quarter. Finally, State Street Corp grew its holdings in New Fortress Energy by 4.9% during the third quarter. State Street Corp now owns 1,205,046 shares of the company’s stock valued at $10,954,000 after purchasing an additional 56,153 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.

Wall Street Analyst Weigh In

NFE has been the topic of several analyst reports. Morgan Stanley lowered their price target on 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. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a report on Wednesday, March 12th. Finally, Stifel Nicolaus lowered their price objective on shares of 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 given a buy rating to the stock. According to MarketBeat, New Fortress Energy presently has an average rating of “Hold” and a consensus target price of $15.00.

Insider Buying and Selling

In other news, CFO Christopher S. Guinta bought 5,000 shares of New Fortress Energy stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the transaction, the chief financial officer now directly owns 206,653 shares in the company, valued at $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.10% of the stock is owned by company insiders.

New Fortress Energy Trading Up 7.9 %

Shares of New Fortress Energy stock opened at $11.17 on Monday. The company’s fifty day simple moving average is $12.29 and its 200-day simple moving average is $11.34. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 12.27 and a beta of 1.58. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. New Fortress Energy Inc. has a 1 year low of $7.58 and a 1 year high of $30.80.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data 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 business had revenue of $679.00 million for 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%. As a group, sell-side analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current year.

New Fortress Energy 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.