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

SL Advisors LLC acquired a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 66,143 shares of the company’s stock, valued at approximately $1,000,000. New Fortress Energy comprises approximately 1.7% of SL Advisors LLC’s investment portfolio, making the stock its 15th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFE. GAMMA Investing LLC boosted its holdings in shares of New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after buying an additional 2,370 shares during the last quarter. Franklin Resources Inc. grew its position in shares of New Fortress Energy by 8.5% during the 3rd quarter. Franklin Resources Inc. now owns 161,095 shares of the company’s stock valued at $1,555,000 after acquiring an additional 12,587 shares during the period. M&T Bank Corp purchased a new stake in shares of New Fortress Energy in the 3rd quarter worth $628,000. Tanaka Capital Management Inc. raised its holdings in New Fortress Energy by 50.7% in the 3rd 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 during the period. Finally, XTX Topco Ltd bought a new position in New Fortress Energy in the 3rd quarter worth $381,000. 58.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

New Fortress Energy Stock Performance

NFE stock traded down $0.95 during midday trading on Wednesday, reaching $13.90. The stock had a trading volume of 2,948,875 shares, compared to its average volume of 4,827,887. The firm has a fifty day simple moving average of $11.50 and a two-hundred day simple moving average of $13.33. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The stock has a market cap of $3.49 billion, a PE ratio of 15.27 and a beta of 1.50. New Fortress Energy Inc. has a 52-week low of $7.82 and a 52-week high of $37.58.

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.