66,143 Shares in New Fortress Energy Inc. (NASDAQ:NFE) Bought by SL Advisors LLC

SL Advisors LLC purchased a new position in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 66,143 shares of the company's stock, valued at approximately $1,000,000. New Fortress Energy comprises about 1.7% of SL Advisors LLC's portfolio, making the stock its 15th biggest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. nVerses Capital LLC acquired a new stake in shares of New Fortress Energy during the third quarter worth $25,000. KBC Group NV boosted its stake in New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company's stock worth $31,000 after buying an additional 1,852 shares during the last quarter. US Bancorp DE grew its holdings in New Fortress Energy by 344.6% in the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company's stock valued at $32,000 after buying an additional 2,767 shares during the period. Signaturefd LLC increased its stake in shares of New Fortress Energy by 409.1% during the 3rd quarter. Signaturefd LLC now owns 4,124 shares of the company's stock valued at $37,000 after acquiring an additional 3,314 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of New Fortress Energy by 125.7% during the 2nd quarter. Quarry LP now owns 2,250 shares of the company's stock worth $49,000 after acquiring an additional 1,253 shares during the period. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NFE has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their target price on shares of New Fortress Energy from $16.00 to $17.00 and gave the company a "buy" rating in a report on Monday, December 23rd. Morgan Stanley cut shares of New Fortress Energy from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $35.00 to $15.00 in a research note on Thursday, October 3rd. BTIG Research cut their target price on 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, Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a "sell" rating to a "hold" rating and set a $11.00 price target for the company in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $15.40.

New Fortress Energy Trading Down 3.2 %

Shares of NFE stock traded down $0.48 during mid-day trading on Wednesday, reaching $14.37. The company's stock had a trading volume of 5,497,048 shares, compared to its average volume of 5,375,498. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The firm has a market capitalization of $3.61 billion, a PE ratio of 15.79 and a beta of 1.50. The company's 50 day simple moving average is $11.50 and its 200-day simple moving average is $13.33. New Fortress Energy Inc. has a 12-month low of $7.82 and a 12-month high of $37.58.

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.