Invesco Ltd. Purchases 180,824 Shares of New Fortress Energy LLC $NFE

Key Points

• Invesco Ltd. increased its stake in New Fortress Energy LLC by 5.5%, acquiring an additional 180,824 shares, bringing its total ownership to about 1.27% of the company valued at approximately $28.8 million.
• As of its latest filing, institutional investors collectively own 58.61% of New Fortress Energy, indicating significant confidence from major financial players in its stability and potential.
• New Fortress Energy's stock has faced analyst downgrades, with BTIG Research recently changing its rating from "buy" to "neutral," and current price targets ranging from $4.00 to $8.50.

Invesco Ltd. boosted its stake in New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,465,478 shares of the company's stock after buying an additional 180,824 shares during the period. Invesco Ltd. owned 1.27% of New Fortress Energy worth $28,798,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in New Fortress Energy by 2.0% in the fourth quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company's stock worth $730,000 after purchasing an additional 935 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of New Fortress Energy by 11.2% during the first quarter. Victory Capital Management Inc. now owns 21,474 shares of the company's stock valued at $178,000 after purchasing an additional 2,157 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of New Fortress Energy by 3.0% during the fourth quarter. Deutsche Bank AG now owns 85,206 shares of the company's stock valued at $1,288,000 after purchasing an additional 2,463 shares during the last quarter. CWM LLC lifted its holdings in shares of New Fortress Energy by 46.9% during the first quarter. CWM LLC now owns 9,065 shares of the company's stock valued at $75,000 after purchasing an additional 2,895 shares during the last quarter. Finally, Brown Advisory Inc. lifted its holdings in shares of New Fortress Energy by 31.0% during the first quarter. Brown Advisory Inc. now owns 13,100 shares of the company's stock valued at $109,000 after purchasing an additional 3,100 shares during the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

New Fortress Energy Stock Performance

NFE traded up $0.1350 during mid-day trading on Monday, reaching $2.7750. 959,211 shares of the company traded hands, compared to its average volume of 9,049,094. The stock has a market capitalization of $760.91 million, a P/E ratio of -1.23 and a beta of 1.08. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 4.77. The company's fifty day moving average price is $3.13 and its 200-day moving average price is $5.69. New Fortress Energy LLC has a 52-week low of $2.01 and a 52-week high of $16.66.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NFE shares. Zacks Research upgraded shares of New Fortress Energy to a "hold" rating in a report on Monday, August 11th. BTIG Research lowered shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday, June 26th. Morgan Stanley set a $4.00 target price on shares of New Fortress Energy and gave the company an "equal weight" rating in a report on Tuesday, May 27th. Compass Point started coverage on shares of New Fortress Energy in a report on Tuesday, July 1st. They set a "buy" rating and a $8.50 target price for the company. Finally, Johnson Rice lowered shares of New Fortress Energy from a "buy" rating to a "hold" rating and lowered their target price for the company from $7.00 to $4.00 in a report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $7.88.

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.