Stifel Financial Corp Invests $990,000 in New Fortress Energy Inc. (NASDAQ:NFE)

Stifel Financial Corp purchased a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 108,896 shares of the company's stock, valued at approximately $990,000. Stifel Financial Corp owned about 0.05% of New Fortress Energy at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in New Fortress Energy by 10.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 468,056 shares of the company's stock worth $10,288,000 after acquiring an additional 45,924 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of New Fortress Energy by 4.8% in the second quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company's stock worth $477,000 after purchasing an additional 999 shares during the last quarter. Versor Investments LP purchased a new position in New Fortress Energy during the 2nd quarter valued at about $268,000. Kailix Advisors LLC raised its position in New Fortress Energy by 11.9% during the 2nd quarter. Kailix Advisors LLC now owns 2,203,824 shares of the company's stock valued at $50,622,000 after purchasing an additional 234,371 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in New Fortress Energy by 7.7% in the 2nd quarter. Victory Capital Management Inc. now owns 14,933 shares of the company's stock worth $328,000 after buying an additional 1,062 shares during the period. 58.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley cut New Fortress Energy from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $35.00 to $15.00 in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a "sell" rating to a "hold" rating and set a $11.00 price objective on the stock in a research report on Wednesday, December 4th. BTIG Research decreased their price objective on shares of New Fortress Energy from $35.00 to $15.00 and set a "buy" rating for the company in a report on Friday, September 13th. Finally, Stifel Nicolaus lifted their target price on shares of New Fortress Energy from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Monday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $15.40.

Insider Buying and Selling

In related news, CEO Wesley R. Edens purchased 5,793,742 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were purchased at an average cost of $8.63 per share, with a total value of $49,999,993.46. Following the transaction, the chief executive officer now directly owns 35,721,915 shares in the company, valued at $308,280,126.45. This trade represents a 19.36 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 37.10% of the stock is owned by company insiders.

New Fortress Energy Stock Down 0.5 %

NFE traded down $0.07 during trading on Tuesday, reaching $14.49. The stock had a trading volume of 3,521,053 shares, compared to its average volume of 3,251,430. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 15.92 and a beta of 1.60. The stock's 50 day moving average is $10.13 and its two-hundred day moving average is $13.86. New Fortress Energy Inc. has a one year low of $7.82 and a one year high of $39.26.

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.