Morningstar Investment Management LLC Sells 22,010 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Morningstar Investment Management LLC decreased its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 54.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,675 shares of the company’s stock after selling 22,010 shares during the period. Morningstar Investment Management LLC’s holdings in New Fortress Energy were worth $282,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NFE. nVerses Capital LLC purchased a new stake in shares of New Fortress Energy in the 3rd quarter valued at about $25,000. KBC Group NV grew its position in New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after acquiring an additional 1,852 shares during the last quarter. US Bancorp DE grew its position in New Fortress Energy by 344.6% during the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after acquiring an additional 2,767 shares during the last quarter. Allworth Financial LP grew its position in New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after acquiring an additional 1,962 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of New Fortress Energy by 409.1% in the 3rd quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock worth $37,000 after buying an additional 3,314 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Stock Performance

NASDAQ:NFE opened at $12.35 on Thursday. The stock has a 50-day simple moving average of $14.06 and a two-hundred day simple moving average of $11.90. New Fortress Energy Inc. has a 52-week low of $7.82 and a 52-week high of $35.58. 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 firm has a market capitalization of $3.11 billion, a PE ratio of 13.57 and a beta of 1.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus lifted 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. Deutsche Bank Aktiengesellschaft upgraded 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.40.

About New Fortress Energy

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.