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Wesley R. Edens, Chief Executive Officer of New Fortress Energy Inc. (NASDAQ:NFE), has purchased a substantial amount of the company’s Class A common stock. On March 12, 2025, Edens acquired 100,000 shares in open market transactions, with the purchase price ranging from $9.00 to $9.16 per share, resulting in a total transaction value of approximately $907,000. The purchase comes as NFE’s stock has declined over 71% in the past year, though InvestingPro analysis suggests the stock is currently undervalued.
Following this transaction, Edens holds a total of 36,021,915 shares indirectly through Edens Family Partners LLC. The shares were purchased at a weighted average price of $9.07 each. This move reflects Edens’ continued investment in the company, which specializes in natural gas distribution. Despite operating with a significant debt burden of $9.5 billion, analysts forecast profitability for NFE in 2025, with two analysts recently revising earnings estimates upward. For deeper insights into NFE’s financial health and growth potential, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, New Fortress Energy reported its fourth-quarter 2024 earnings, which significantly exceeded analyst expectations. The company achieved an earnings per share (EPS) of $0.13, more than double the forecasted $0.06, and reported revenue of $679 million, surpassing the projected $547.68 million. Despite these positive results, the company recorded a substantial net loss of $240 million for the quarter. New Fortress Energy has also secured a $1.27 billion credit agreement, which includes amendments to existing term loans and the establishment of new financial obligations. This financial restructuring is intended to support ongoing projects and corporate needs, although the closing of these arrangements is contingent on certain conditions. Analyst firm Stifel recently adjusted its outlook on New Fortress Energy, lowering the stock target to $19 from $23 but maintaining a Buy rating, noting the company’s growth prospects in Puerto Rico and Brazil. The company is reportedly advancing in the sale of its Jamaican assets and has engaged in several refinancing activities over the quarter. Stifel also highlighted the anticipated startup of FLNG (OL:FLNG) 2, which is expected to significantly boost cash flow, though they acknowledged substantial execution risks remain.
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