New Fortress Energy LLC (NASDAQ:NFE) Receives $8.43 Average PT from Brokerages

Shares of New Fortress Energy LLC (NASDAQ:NFE) have been assigned an average rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $7.8750.

A number of research analysts recently issued reports on NFE shares. New Street Research set a $8.50 price objective on New Fortress Energy in a research report on Monday, June 30th. Johnson Rice lowered New Fortress Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $7.00 to $4.00 in a research report on Wednesday. Morgan Stanley set a $4.00 price objective on New Fortress Energy and gave the company an “equal weight” rating in a research report on Tuesday, May 27th. Stifel Nicolaus reduced their price objective on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, BTIG Research lowered New Fortress Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, June 26th.

New Fortress Energy Price Performance

Shares of NFE opened at $2.39 on Tuesday. The firm has a market cap of $655.34 million, a price-to-earnings ratio of -1.06 and a beta of 1.08. The stock has a 50 day moving average of $3.20 and a 200-day moving average of $6.31. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 4.77. New Fortress Energy has a 52 week low of $2.01 and a 52 week high of $16.66.

Institutional Trading of New Fortress Energy

Several institutional investors have recently modified their holdings of NFE. JPMorgan Chase & Co. lifted its holdings in shares of New Fortress Energy by 2.0% during the fourth quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company’s stock valued at $730,000 after purchasing an additional 935 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of New Fortress Energy by 62.4% during the fourth quarter. Geode Capital Management LLC now owns 1,718,521 shares of the company’s stock valued at $25,993,000 after purchasing an additional 660,119 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of New Fortress Energy during the fourth quarter valued at $155,000. Russell Investments Group Ltd. lifted its holdings in shares of New Fortress Energy by 8,438.5% during the fourth quarter. Russell Investments Group Ltd. now owns 40,814 shares of the company’s stock valued at $617,000 after purchasing an additional 40,336 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in New Fortress Energy by 32.5% in the 4th quarter. Legal & General Group Plc now owns 108,470 shares of the company’s stock worth $1,640,000 after acquiring an additional 26,602 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

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.