SL Advisors LLC Purchases 99,656 Shares of New Fortress Energy LLC (NASDAQ:NFE)

SL Advisors LLC raised its stake in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 150.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,799 shares of the company's stock after purchasing an additional 99,656 shares during the quarter. New Fortress Energy comprises 2.4% of SL Advisors LLC's holdings, making the stock its 13th biggest position. SL Advisors LLC owned approximately 0.06% of New Fortress Energy worth $1,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of NFE. Quarry LP purchased a new position in New Fortress Energy during the fourth quarter worth about $64,000. US Bancorp DE boosted its holdings in New Fortress Energy by 31.5% in the fourth 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 in the last quarter. Ancora Advisors LLC purchased a new stake in New Fortress Energy in the fourth quarter valued at $91,000. Hardin Capital Partners LLC acquired a new stake in New Fortress Energy during the 1st quarter worth $83,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of New Fortress Energy in the fourth quarter valued at approximately $155,000. Institutional investors and hedge funds own 58.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Compass Point initiated coverage on shares of New Fortress Energy in a report on Tuesday. They set a "buy" rating and a $8.50 price objective on the stock. New Street Research set a $8.50 price target on shares of New Fortress Energy in a research report on Monday. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a research report on Wednesday, March 12th. Stifel Nicolaus lowered their price target on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, BTIG Research downgraded New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, New Fortress Energy has an average rating of "Hold" and an average price target of $9.75.

New Fortress Energy Stock Up 4.0%

NASDAQ NFE traded up $0.16 on Friday, reaching $4.04. The stock had a trading volume of 9,558,111 shares, compared to its average volume of 7,009,091. New Fortress Energy LLC has a 1 year low of $2.01 and a 1 year high of $26.22. The business has a 50 day moving average price of $3.67 and a 200 day moving average price of $8.55. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 4.00. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -1.79 and a beta of 1.30.

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.