SL Advisors LLC Invests $1 Million in New Fortress Energy Inc. (NASDAQ:NFE)

SL Advisors LLC acquired a new stake in New Fortress Energy Inc. (NASDAQ:NFE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 66,143 shares of the company’s stock, valued at approximately $1,000,000. New Fortress Energy makes up about 1.7% of SL Advisors LLC’s investment portfolio, making the stock its 15th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in New Fortress Energy by 148.5% in the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after purchasing an additional 2,370 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of New Fortress Energy by 8.5% in the 3rd quarter. Franklin Resources Inc. now owns 161,095 shares of the company’s stock worth $1,555,000 after acquiring an additional 12,587 shares during the last quarter. M&T Bank Corp purchased a new position in shares of New Fortress Energy during the 3rd quarter worth approximately $628,000. Tanaka Capital Management Inc. lifted its stake in New Fortress Energy by 50.7% during the third quarter. Tanaka Capital Management Inc. now owns 32,370 shares of the company’s stock worth $294,000 after purchasing an additional 10,895 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of New Fortress Energy during the third quarter worth $381,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on NFE shares. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a research note on Wednesday, December 4th. Stifel Nicolaus boosted their price objective on New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. BTIG Research lowered their price target on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. Finally, Morgan Stanley downgraded shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $35.00 to $15.00 in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, New Fortress Energy has a consensus rating of “Hold” and an average price target of $15.40.

New Fortress Energy Stock Down 6.4 %

Shares of New Fortress Energy stock traded down $0.95 during trading hours on Wednesday, hitting $13.90. The company had a trading volume of 2,948,875 shares, compared to its average volume of 4,827,887. The company’s 50-day moving average is $11.50 and its two-hundred day moving average is $13.33. The company has a market cap of $3.49 billion, a P/E ratio of 15.27 and a beta of 1.50. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. New Fortress Energy Inc. has a twelve month low of $7.82 and a twelve month high of $37.58.

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.