SL Advisors LLC Has $1.38 Million Stock Holdings in New Fortress Energy LLC (NASDAQ:NFE)

SL Advisors LLC boosted its holdings in New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 150.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,799 shares of the company's stock after acquiring an additional 99,656 shares during the quarter. New Fortress Energy accounts for 2.4% of SL Advisors LLC's portfolio, making the stock its 13th largest position. SL Advisors LLC owned about 0.06% of New Fortress Energy worth $1,378,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of New Fortress Energy during the 4th quarter valued at $64,000. US Bancorp DE increased its position in shares of New Fortress Energy by 31.5% during the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after purchasing an additional 1,126 shares during the period. Hardin Capital Partners LLC acquired a new position in shares of New Fortress Energy during the 1st quarter valued at $83,000. Ancora Advisors LLC acquired a new position in shares of New Fortress Energy during the 4th quarter valued at $91,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of New Fortress Energy during the 1st quarter valued at $130,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. New Street Research set a $8.50 price target on New Fortress Energy in a research report on Monday, June 30th. Compass Point assumed coverage on New Fortress Energy in a research report on Tuesday, July 1st. They set a "buy" rating and a $8.50 price target on the stock. Morgan Stanley set a $4.00 price target on New Fortress Energy and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Citigroup lowered their price target on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Finally, 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 note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $9.75.

New Fortress Energy Price Performance

Shares of NFE traded up $0.22 during trading hours on Tuesday, hitting $3.80. 6,867,413 shares of the company were exchanged, compared to its average volume of 7,047,824. The company has a market capitalization of $1.04 billion, a PE ratio of -1.69 and a beta of 1.30. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.00 and a quick ratio of 0.95. The firm has a fifty day simple moving average of $3.59 and a 200-day simple moving average of $8.44. New Fortress Energy LLC has a one year low of $2.01 and a one year high of $26.22.

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.