Nuveen LLC Buys New Position in New Fortress Energy LLC $NFE

Key Points

• Nuveen LLC has made a new investment of approximately $2.69 million in New Fortress Energy LLC by acquiring 323,929 shares during the 1st quarter.
• The stock of New Fortress Energy is currently trading at $2.63, reflecting a 1.2% increase, with a significant price fluctuation noted over the past year between a low of $2.01 and a high of $16.66.
• New Fortress Energy has received a mix of ratings from analysts, with an average consensus rating of "Hold" and a target price set at $7.88.

Nuveen LLC acquired a new position in New Fortress Energy LLC (NASDAQ:NFE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 323,929 shares of the company's stock, valued at approximately $2,692,000. Nuveen LLC owned about 0.12% of New Fortress Energy as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Quarry LP purchased a new position in shares of New Fortress Energy in the fourth quarter worth about $64,000. Ancora Advisors LLC purchased a new position in shares of New Fortress Energy in the fourth quarter worth about $91,000. US Bancorp DE raised its stake in shares of New Fortress Energy by 81.7% in the first quarter. US Bancorp DE now owns 8,534 shares of the company's stock worth $71,000 after purchasing an additional 3,838 shares during the last quarter. CWM LLC raised its stake in shares of New Fortress Energy by 46.9% in the first quarter. CWM LLC now owns 9,065 shares of the company's stock worth $75,000 after purchasing an additional 2,895 shares during the last quarter. Finally, Hardin Capital Partners LLC purchased a new position in shares of New Fortress Energy in the first quarter worth about $83,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. 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. Johnson Rice lowered New Fortress Energy from a "buy" rating to a "hold" rating and lowered their price target for the stock from $7.00 to $4.00 in a research note on Wednesday, August 13th. Zacks Research raised New Fortress Energy to a "hold" rating in a research note on Monday, August 11th. BTIG Research downgraded New Fortress Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, June 26th. Finally, Compass Point started coverage on New Fortress Energy in a research report on Tuesday, July 1st. They issued a "buy" rating and a $8.50 target price on the stock. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $7.88.

New Fortress Energy Stock Down 6.5%

Shares of NASDAQ:NFE traded down $0.17 on Monday, hitting $2.46. 4,349,525 shares of the company's stock were exchanged, compared to its average volume of 7,526,971. The firm's 50-day moving average is $3.16 and its 200 day moving average is $5.36. The company has a market capitalization of $674.53 million, a PE ratio of -1.09 and a beta of 0.99. New Fortress Energy LLC has a 1-year low of $2.01 and a 1-year 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.

New Fortress Energy Company 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.