Stifel Financial Corp Takes $990,000 Position in New Fortress Energy Inc. (NASDAQ:NFE)

Stifel Financial Corp acquired a new position in New Fortress Energy Inc. (NASDAQ:NFE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 108,896 shares of the company’s stock, valued at approximately $990,000. Stifel Financial Corp owned about 0.05% of New Fortress Energy as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vontobel Holding Ltd. purchased a new stake in New Fortress Energy in the third quarter valued at about $511,000. Pinnacle Associates Ltd. acquired a new position in shares of New Fortress Energy during the third quarter valued at about $890,000. American Assets Investment Management LLC raised its position in shares of New Fortress Energy by 101.6% in the 3rd quarter. American Assets Investment Management LLC now owns 114,065 shares of the company’s stock valued at $1,037,000 after purchasing an additional 57,479 shares during the last quarter. Primecap Management Co. CA boosted its stake in New Fortress Energy by 43.7% in the 3rd quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company’s stock worth $104,827,000 after purchasing an additional 3,505,975 shares in the last quarter. Finally, Holocene Advisors LP grew its position in New Fortress Energy by 107.2% during the 3rd quarter. Holocene Advisors LP now owns 389,698 shares of the company’s stock worth $3,542,000 after purchasing an additional 201,649 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.

New Fortress Energy Stock Performance

Shares of NFE stock opened at $14.56 on Tuesday. New Fortress Energy Inc. has a 52-week low of $7.82 and a 52-week high of $39.26. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The stock has a market cap of $3.66 billion, a PE ratio of 16.00 and a beta of 1.60. The business has a 50-day simple moving average of $10.13 and a 200-day simple moving average of $13.86.

Insider Buying and Selling at New Fortress Energy

In other news, CEO Wesley R. Edens acquired 5,793,742 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was bought at an average price of $8.63 per share, with a total value of $49,999,993.46. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 37.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NFE shares. Deutsche Bank Aktiengesellschaft upgraded 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. Morgan Stanley cut New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. Stifel Nicolaus increased their price objective on New Fortress Energy from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday. Finally, BTIG Research decreased their target price on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. Three 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, the stock has an average rating of “Hold” and an average target price of $15.40.

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.