New Fortress Energy Inc. (NASDAQ:NFE) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 76.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,315 shares of the company's stock after selling 153,682 shares during the quarter. JPMorgan Chase & Co.'s holdings in New Fortress Energy were worth $430,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of New Fortress Energy by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,443,476 shares of the company's stock valued at $31,717,000 after purchasing an additional 75,661 shares during the last quarter. Sei Investments Co. lifted its stake in shares of New Fortress Energy by 167.2% in the 2nd quarter. Sei Investments Co. now owns 127,962 shares of the company's stock valued at $2,813,000 after purchasing an additional 80,075 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of New Fortress Energy by 20.1% in the 2nd quarter. Bank of Montreal Can now owns 81,843 shares of the company's stock valued at $1,807,000 after purchasing an additional 13,706 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of New Fortress Energy by 293.0% in the 2nd quarter. Marshall Wace LLP now owns 110,034 shares of the company's stock valued at $2,419,000 after purchasing an additional 82,034 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of New Fortress Energy by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company's stock valued at $479,000 after purchasing an additional 1,024 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus raised their price target on New Fortress Energy from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a "sell" rating to a "hold" rating and set a $11.00 price objective on the stock in a report on Wednesday, December 4th. Finally, Morgan Stanley downgraded New Fortress Energy from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $35.00 to $15.00 in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, New Fortress Energy presently has a consensus rating of "Hold" and an average target price of $15.40.

New Fortress Energy Stock Performance

NFE traded up $0.50 on Thursday, reaching $15.57. 1,801,173 shares of the stock were exchanged, compared to its average volume of 4,010,688. The company's 50-day moving average price is $13.48 and its 200 day moving average price is $12.77. New Fortress Energy Inc. has a fifty-two week low of $7.82 and a fifty-two week high of $35.58. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The firm has a market capitalization of $3.91 billion, a PE ratio of 17.11 and a beta of 1.50.

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.