Deutsche Bank AG Raises Position in New Fortress Energy LLC $NFE

Key Points

• Deutsche Bank AG increased its ownership in New Fortress Energy LLC by 118.5% in Q1, acquiring an additional 100,974 shares to own a total of 186,180 shares valued at $1.5 million.
• Institutional investors own 58.61% of New Fortress Energy, with significant increases from Vanguard Group (22.6%), American Assets Investment Management (888.8%), and Voya Investment Management (6,417.1%) in recent quarters.
• New Fortress Energy's stock has shown fluctuations, with a 10.0% increase recently, trading at $2.64, compared to a one-year low of $2.01 and a high of $16.66.

Deutsche Bank AG boosted its holdings in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 118.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,180 shares of the company's stock after buying an additional 100,974 shares during the period. Deutsche Bank AG owned approximately 0.07% of New Fortress Energy worth $1,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NFE. Quarry LP purchased a new stake in shares of New Fortress Energy during the fourth quarter worth about $64,000. US Bancorp DE increased its stake in New Fortress Energy by 81.7% during the 1st quarter. US Bancorp DE now owns 8,534 shares of the company's stock valued at $71,000 after purchasing an additional 3,838 shares in the last quarter. CWM LLC increased its stake in New Fortress Energy by 46.9% during the 1st quarter. CWM LLC now owns 9,065 shares of the company's stock valued at $75,000 after purchasing an additional 2,895 shares in the last quarter. Hardin Capital Partners LLC purchased a new position in shares of New Fortress Energy in the first quarter worth $83,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of New Fortress Energy during the first quarter worth $84,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

New Fortress Energy Stock Performance

Shares of NFE stock traded down $0.03 during trading hours on Monday, hitting $2.61. The company had a trading volume of 5,829,283 shares, compared to its average volume of 8,708,638. New Fortress Energy LLC has a fifty-two week low of $2.01 and a fifty-two week high of $16.66. The company has a debt-to-equity ratio of 4.77, a quick ratio of 0.95 and a current ratio of 1.00. The company's fifty day moving average is $3.13 and its 200 day moving average is $5.62.

Analysts Set New Price Targets

A number of analysts have commented on the company. New Street Research set a $8.50 price target on New Fortress Energy in a research report on Monday, June 30th. BTIG Research downgraded shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday, June 26th. Johnson Rice lowered shares of New Fortress Energy from a "buy" rating to a "hold" rating and reduced their price target for the stock from $7.00 to $4.00 in a research report on Wednesday, August 13th. Zacks Research raised shares of New Fortress Energy to a "hold" rating in a report on Monday, August 11th. Finally, Morgan Stanley set a $4.00 price objective on shares of New Fortress Energy and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $7.88.

New Fortress Energy 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.