Sei Investments Co. Grows Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Sei Investments Co. grew its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 128.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 324,433 shares of the company’s stock after buying an additional 182,359 shares during the quarter. Sei Investments Co.’s holdings in New Fortress Energy were worth $4,905,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. William Blair Investment Management LLC increased its stake in New Fortress Energy by 40.8% in 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 acquiring an additional 4,509,177 shares during the last quarter. Primecap Management Co. CA increased its position in shares of New Fortress Energy by 13.6% during the 4th 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 raised its holdings in shares of New Fortress Energy by 56.2% during the 4th quarter. American Assets Capital Advisers LLC now owns 2,430,812 shares of the company’s stock valued at $36,754,000 after buying an additional 875,045 shares in the last quarter. Kailix Advisors LLC lifted its position in New Fortress Energy by 73.9% in the 4th quarter. Kailix Advisors LLC now owns 1,480,321 shares of the company’s stock worth $22,382,000 after buying an additional 628,882 shares during the last quarter. Finally, State Street Corp boosted its stake in New Fortress Energy by 4.9% in the third quarter. State Street Corp now owns 1,205,046 shares of the company’s stock worth $10,954,000 after buying an additional 56,153 shares in the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Insider Activity at New Fortress Energy

In related news, CFO Christopher S. Guinta purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, the chief financial officer now directly owns 206,653 shares in the company, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 37.10% of the stock is owned by corporate insiders.

New Fortress Energy Price Performance

NFE stock opened at $7.58 on Wednesday. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 8.33 and a beta of 1.58. The firm’s 50-day moving average price is $11.52 and its two-hundred day moving average price is $11.30. 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 $7.20 and a 12-month high of $30.71.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stifel Nicolaus decreased their price target 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. Morgan Stanley decreased 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 set a $8.00 price target on shares of New Fortress Energy in a research report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.00.

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.