Geode Capital Management LLC decreased its position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 13.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,058,402 shares of the company's stock after selling 164,633 shares during the quarter. Geode Capital Management LLC owned about 0.52% of New Fortress Energy worth $9,624,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Primecap Management Co. CA grew its stake in shares of New Fortress Energy by 43.7% in the third quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company's stock worth $104,827,000 after purchasing an additional 3,505,975 shares in the last quarter. American Assets Capital Advisers LLC increased its stake in New Fortress Energy by 105.7% during the 3rd quarter. American Assets Capital Advisers LLC now owns 1,555,767 shares of the company's stock valued at $14,968,000 after buying an additional 799,280 shares during the period. William Blair Investment Management LLC increased its stake in New Fortress Energy by 7.1% during the 2nd quarter. William Blair Investment Management LLC now owns 9,549,412 shares of the company's stock valued at $209,896,000 after buying an additional 633,170 shares during the period. HITE Hedge Asset Management LLC lifted its stake in shares of New Fortress Energy by 24.1% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 3,192,129 shares of the company's stock worth $70,163,000 after acquiring an additional 619,621 shares during the period. Finally, Encompass Capital Advisors LLC boosted its holdings in shares of New Fortress Energy by 9.0% in the second quarter. Encompass Capital Advisors LLC now owns 4,797,308 shares of the company's stock valued at $105,445,000 after acquiring an additional 395,740 shares in the last quarter. Institutional investors own 58.61% of the company's stock.
Analyst Upgrades and Downgrades
NFE has been the topic of several recent analyst reports. Morgan Stanley cut New Fortress Energy from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $35.00 to $15.00 in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a "sell" rating to a "hold" rating and set a $11.00 target price for the company in a research note on Wednesday, December 4th. BTIG Research dropped their price target on shares of New Fortress Energy from $35.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, September 13th. Finally, Stifel Nicolaus raised their price objective on shares of New Fortress Energy from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $15.40.
Check Out Our Latest Research Report on New Fortress Energy
New Fortress Energy Trading Up 7.8 %
New Fortress Energy stock traded up $1.18 during midday trading on Thursday, reaching $16.30. The stock had a trading volume of 7,520,707 shares, compared to its average volume of 3,275,731. The firm's fifty day simple moving average is $10.94 and its two-hundred day simple moving average is $13.54. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. New Fortress Energy Inc. has a twelve month low of $7.82 and a twelve month high of $37.58. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 17.91 and a beta of 1.60.
About New Fortress Energy
(
Free Report)
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.
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