New Fortress Energy Inc. (NASDAQ:NFE) Shares Sold by Morningstar Investment Management LLC

Morningstar Investment Management LLC lowered its position in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 54.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,675 shares of the company's stock after selling 22,010 shares during the period. Morningstar Investment Management LLC's holdings in New Fortress Energy were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Primecap Management Co. CA increased its holdings in shares of New Fortress Energy by 43.7% in the 3rd quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company's stock valued at $104,827,000 after purchasing an additional 3,505,975 shares in the last quarter. American Assets Capital Advisers LLC grew its holdings in shares of New Fortress Energy by 105.7% in the 3rd quarter. American Assets Capital Advisers LLC now owns 1,555,767 shares of the company's stock worth $14,968,000 after acquiring an additional 799,280 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in New Fortress Energy during the fourth quarter worth $8,316,000. Holocene Advisors LP grew its holdings in New Fortress Energy by 107.2% in the third quarter. Holocene Advisors LP now owns 389,698 shares of the company's stock valued at $3,542,000 after purchasing an additional 201,649 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in shares of New Fortress Energy in the fourth quarter valued at $2,268,000. Hedge funds and other institutional investors own 58.61% of the company's stock.

New Fortress Energy Price Performance

NFE stock traded down $0.88 during trading on Friday, hitting $11.17. The stock had a trading volume of 3,230,366 shares, compared to its average volume of 3,964,812. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 12.27 and a beta of 1.49. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The company's 50 day moving average price is $14.00 and its two-hundred day moving average price is $11.86. New Fortress Energy Inc. has a 1-year low of $7.82 and a 1-year high of $35.58.

Wall Street Analyst Weigh In

Several research firms recently commented on NFE. Stifel Nicolaus boosted their price objective on shares of New Fortress Energy from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a "sell" rating to a "hold" rating and set a $11.00 price objective for the company in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $15.40.

New Fortress Energy Company Profile

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.