323,929 Shares in New Fortress Energy LLC $NFE Bought by Nuveen LLC

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 stake in New Fortress Energy LLC (NASDAQ:NFE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 323,929 shares of the company's stock, valued at approximately $2,692,000. Nuveen LLC owned approximately 0.12% of New Fortress Energy at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Victory Capital Management Inc. grew its holdings in shares of New Fortress Energy by 11.2% in the 1st quarter. Victory Capital Management Inc. now owns 21,474 shares of the company's stock valued at $178,000 after acquiring an additional 2,157 shares in the last quarter. Deutsche Bank AG boosted 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 worth $1,288,000 after acquiring an additional 2,463 shares during the period. CWM LLC boosted 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 valued at $75,000 after buying an additional 2,895 shares during the period. Brown Advisory Inc. boosted its stake in shares of New Fortress Energy by 31.0% in the first quarter. Brown Advisory Inc. now owns 13,100 shares of the company's stock valued at $109,000 after buying an additional 3,100 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of New Fortress Energy by 3.7% in the first quarter. Rhumbline Advisers now owns 101,283 shares of the company's stock valued at $842,000 after buying an additional 3,653 shares during the period. Institutional investors own 58.61% of the company's stock.

Analysts Set New Price Targets

NFE has been the subject of several recent research reports. Compass Point began coverage on New Fortress Energy in a research note on Tuesday, July 1st. They issued a "buy" rating and a $8.50 price target for the company. New Street Research set a $8.50 price objective on shares of 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 research report on Thursday, June 26th. Morgan Stanley set a $4.00 price objective on shares of New Fortress Energy and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Finally, Johnson Rice downgraded shares of New Fortress Energy from a "buy" rating to a "hold" rating and lowered their price objective for the company from $7.00 to $4.00 in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, New Fortress Energy currently has a consensus rating of "Hold" and an average target price of $7.88.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE traded down $0.05 during trading on Wednesday, hitting $2.30. 4,550,661 shares of the company were exchanged, compared to its average volume of 7,253,923. The business's 50 day moving average is $3.17 and its 200-day moving average is $5.25. The company has a market capitalization of $630.66 million, a P/E ratio of -1.02 and a beta of 0.99. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 4.77. New Fortress Energy LLC has a 1-year low of $2.01 and a 1-year high of $16.66.

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.