New Fortress Energy Inc. (NASDAQ:NFE) is American Assets Capital Advisers LLC’s 9th Largest Position

American Assets Capital Advisers LLC increased its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 105.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,555,767 shares of the company’s stock after purchasing an additional 799,280 shares during the period. New Fortress Energy makes up 4.6% of American Assets Capital Advisers LLC’s investment portfolio, making the stock its 9th biggest position. American Assets Capital Advisers LLC’s holdings in New Fortress Energy were worth $14,968,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new stake in New Fortress Energy in the third quarter valued at $480,000. Crestwood Advisors Group LLC boosted its position in shares of New Fortress Energy by 27.4% in the 3rd quarter. Crestwood Advisors Group LLC now owns 108,031 shares of the company’s stock valued at $982,000 after purchasing an additional 23,225 shares during the period. US Bancorp DE grew its stake in New Fortress Energy by 344.6% during the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after buying an additional 2,767 shares during the last quarter. Pinnacle Associates Ltd. acquired a new position in New Fortress Energy during the third quarter worth approximately $890,000. Finally, X Square Capital LLC lifted its stake in New Fortress Energy by 34.5% in the third quarter. X Square Capital LLC now owns 184,746 shares of the company’s stock valued at $1,679,000 after buying an additional 47,350 shares during the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on NFE. Barclays reduced their price target on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Morgan Stanley lowered New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $35.00 to $15.00 in a report on Thursday, October 3rd. Stifel Nicolaus decreased their price objective on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and issued a $7.60 target price (down previously from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st. Finally, BTIG Research decreased their price target on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, New Fortress Energy has an average rating of “Hold” and an average price target of $19.77.

Insider Transactions at New Fortress Energy

In related news, CEO Wesley R. Edens bought 5,793,742 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were acquired at an average cost 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 $308,280,126.45. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 37.10% of the company’s stock.

New Fortress Energy Trading Down 6.6 %

NFE traded down $0.65 during midday trading on Tuesday, hitting $9.16. The company’s stock had a trading volume of 1,550,549 shares, compared to its average volume of 2,938,489. New Fortress Energy Inc. has a 52-week low of $7.82 and a 52-week high of $40.04. The firm has a 50-day moving average price of $9.68 and a two-hundred day moving average price of $17.15. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38. The firm has a market cap of $1.88 billion, a P/E ratio of 10.78 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.50). The firm had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $465.52 million. New Fortress Energy had a return on equity of 15.46% and a net margin of 7.84%. The company’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same period last year, the business posted $0.58 earnings per share. On average, research analysts anticipate that New Fortress Energy Inc. will post 0.52 earnings per share for the current year.

About New Fortress Energy

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.