KBC Group NV Increases Stake in New Fortress Energy Inc.

KBC Group NV has significantly increased its investment in New Fortress Energy Inc. (NASDAQ:NFE) by 121.1% during the fourth quarter, according to recent reports from Holdings Channel. Following the acquisition of an additional 4,160 shares, KBC Group NV now holds a total of 7,596 shares of the company’s stock. As of the end of the latest quarter, these holdings are valued at approximately $115,000.

Recent changes in ownership among large investors indicate a growing interest in New Fortress Energy. Notably, Primecap Management Co. CA raised its stake in the company by 43.7% in the third quarter, resulting in ownership of 11,532,105 shares valued at about $104,827,000 after the addition of 3,505,975 shares. Additionally, American Assets Capital Advisers LLC boosted its holdings by 105.7% during the same period, now owning 1,555,767 shares worth approximately $14,968,000 after acquiring an extra 799,280 shares.

State Street Corp increased its investment by 4.9%, bringing its total to 1,205,046 shares with a value of $10,954,000 after acquiring an additional 56,153 shares. Holocene Advisors LP also grew its position in New Fortress Energy by 107.2%, now holding 389,698 shares valued at around $3,542,000 after purchasing an extra 201,649 shares. Furthermore, Exchange Traded Concepts LLC expanded its holdings in the fourth quarter by 59.9%, now owning 227,512 shares worth about $3,440,000 following the acquisition of 85,239 additional shares. It is worth noting that institutional investors and hedge funds collectively own 58.61% of the company’s stock.

Performance of New Fortress Energy Stock

The stock of New Fortress Energy opened at $12.26 on a recent Friday, with a market capitalization of $3.08 billion. The company's price-to-earnings (PE) ratio stands at 13.47, with a beta of 1.49. In terms of financial ratios, the firm has a debt-to-equity ratio of 4.06, alongside a quick ratio of 0.35 and a current ratio of 0.38. Over the past year, New Fortress Energy has seen a 52-week low of $7.82 and a high of $35.58. The stock has a 50-day moving average of $14.00 and a 200-day moving average of $12.46.

Recent Analyst Ratings

Several research analysts have evaluated New Fortress Energy's stock recently. For instance, Stifel Nicolaus raised its price target for the company from $16.00 to $17.00 and labeled the stock as a “buy” in a report published on December 23. Deutsche Bank Aktiengesellschaft upgraded the rating from “sell” to “hold” with a price target set at $11.00 on December 4. So far, three analysts have assigned a hold rating, while two have given a buy rating. According to MarketBeat data, the current consensus rating for the stock is “Hold,” with a target price averaging $15.40.

Find Out More About New Fortress Energy

Overview of New Fortress Energy Inc.

New Fortress Energy Inc. is involved in providing integrated gas-to-power energy infrastructure and development services on a global scale. The company operates through two main segments: Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment is responsible for natural gas procurement, liquefaction, shipping, logistics, and the development of natural gas-fired power generation.

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