PNC Financial Services Group Inc. Has $249,000 Position in New Fortress Energy Inc. (NASDAQ:NFE)

PNC Financial Services Group Inc. boosted its position in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 21.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,438 shares of the company’s stock after purchasing an additional 2,951 shares during the quarter. PNC Financial Services Group Inc.’s holdings in New Fortress Energy were worth $249,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NFE. KBC Group NV grew its holdings in New Fortress Energy by 116.9% during the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after purchasing an additional 1,852 shares during the period. Allworth Financial LP boosted its holdings in shares of New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after buying an additional 1,962 shares during the period. GAMMA Investing LLC boosted its holdings in shares of New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after buying an additional 2,370 shares during the period. US Bancorp DE boosted its holdings in shares of New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock valued at $71,000 after buying an additional 1,126 shares during the period. Finally, Captrust Financial Advisors acquired a new position in shares of New Fortress Energy in the third quarter valued at approximately $101,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Stock Performance

Shares of NFE stock opened at $11.17 on Friday. The company’s fifty day simple moving average is $12.29 and its 200-day simple moving average is $11.35. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The firm has a market cap of $3.06 billion, a PE ratio of 12.27 and a beta of 1.58. New Fortress Energy Inc. has a 12 month low of $7.58 and a 12 month high of $30.80.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. Equities research analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Christopher S. Guinta purchased 5,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were 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 owns 206,653 shares of the company’s stock, valued at $1,771,016.21. The trade was a 2.48 % increase in their position. The transaction 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.

Analysts Set New Price Targets

NFE has been the subject of several research analyst reports. Morgan Stanley reduced their price target on shares of 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. Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.00.

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.