Stifel Nicolaus Forecasts Strong Price Appreciation for New Fortress Energy (NASDAQ:NFE) Stock

New Fortress Energy (NASDAQ:NFE) had its price target increased by Stifel Nicolaus from $16.00 to $17.00 in a research report report published on Monday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Morgan Stanley downgraded New Fortress Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $35.00 to $15.00 in a research note on Thursday, October 3rd. BTIG Research cut their target price on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.40.

New Fortress Energy Trading Down 0.5 %

NFE opened at $14.49 on Monday. New Fortress Energy has a fifty-two week low of $7.82 and a fifty-two week high of $39.26. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 15.92 and a beta of 1.60. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The firm has a 50 day simple moving average of $10.24 and a 200 day simple moving average of $13.80.

Insider Activity at New Fortress Energy

In related news, CEO Wesley R. Edens bought 5,793,742 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were purchased at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the acquisition, the chief executive officer now owns 35,721,915 shares of the company’s stock, valued at approximately $308,280,126.45. This represents a 19.36 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 37.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NFE. Franklin Resources Inc. raised its holdings in New Fortress Energy by 8.5% during the third 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 in the last quarter. M&T Bank Corp bought a new stake in shares of New Fortress Energy during the 3rd quarter worth approximately $628,000. Tanaka Capital Management Inc. raised its stake in shares of New Fortress Energy by 50.7% during 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 in the last quarter. XTX Topco Ltd acquired a new stake in shares of New Fortress Energy in the 3rd quarter valued at approximately $381,000. Finally, State Street Corp grew its stake in shares of New Fortress Energy by 4.9% in the third quarter. State Street Corp now owns 1,205,046 shares of the company’s stock valued at $10,954,000 after buying an additional 56,153 shares in the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.

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.