Barclays PLC Trims Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Barclays PLC lowered its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 39.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 210,297 shares of the company’s stock after selling 137,114 shares during the period. Barclays PLC’s holdings in New Fortress Energy were worth $1,911,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NFE. nVerses Capital LLC acquired a new stake in shares of New Fortress Energy in the third quarter valued at $25,000. KBC Group NV boosted its holdings in New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after acquiring an additional 1,852 shares during the period. US Bancorp DE increased its stake in New Fortress Energy by 344.6% during the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after purchasing an additional 2,767 shares during the period. Signaturefd LLC lifted its position in shares of New Fortress Energy by 409.1% during the third quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock worth $37,000 after purchasing an additional 3,314 shares in the last quarter. Finally, Quarry LP lifted its position in shares of New Fortress Energy by 125.7% during the second quarter. Quarry LP now owns 2,250 shares of the company’s stock worth $49,000 after purchasing an additional 1,253 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 bought 5,793,742 shares of the stock in a transaction dated Tuesday, October 1st. The stock was acquired at an average price of $8.63 per share, for a total transaction of $49,999,993.46. Following the acquisition, the chief executive officer now owns 35,721,915 shares in the company, valued at approximately $308,280,126.45. This represents a 19.36 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 37.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

NFE has been the topic of several recent research reports. Morgan Stanley downgraded shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $35.00 to $15.00 in a research note on Thursday, October 3rd. BTIG Research cut their price objective 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. Deutsche Bank Aktiengesellschaft upgraded 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. Finally, Stifel Nicolaus upped their price target on New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.40.

New Fortress Energy Stock Performance

Shares of NFE stock opened at $14.51 on Friday. The company has a market cap of $3.65 billion, a P/E ratio of 15.95 and a beta of 1.60. The firm has a fifty day moving average price of $10.34 and a 200 day moving average price of $13.80. 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 12 month low of $7.82 and a 12 month high of $39.05.

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.