M&T Bank Corp Sells 2,873 Shares of New Fortress Energy LLC (NASDAQ:NFE)

M&T Bank Corp decreased its holdings in shares of New Fortress Energy LLC (NASDAQ:NFE) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,875 shares of the company’s stock after selling 2,873 shares during the period. M&T Bank Corp’s holdings in New Fortress Energy were worth $415,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new stake in New Fortress Energy during the fourth quarter valued at about $155,023,000. Capital World Investors raised its position in New Fortress Energy by 87.9% during the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock valued at $301,266,000 after purchasing an additional 9,319,985 shares in the last quarter. Vanguard Group Inc. raised its position in New Fortress Energy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock valued at $171,147,000 after purchasing an additional 2,728,191 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new stake in New Fortress Energy during the fourth quarter valued at about $19,618,000. Finally, Voya Investment Management LLC raised its position in New Fortress Energy by 6,417.1% during the fourth quarter. Voya Investment Management LLC now owns 1,307,455 shares of the company’s stock valued at $19,769,000 after purchasing an additional 1,287,393 shares in the last quarter. Institutional investors own 58.61% of the company’s stock.

Wall Street Analysts Forecast Growth

NFE has been the topic of a number of research reports. New Street Research set a $8.50 price target on New Fortress Energy in a research report on Monday, June 30th. Stifel Nicolaus lowered their price target on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley set a $4.00 price target on New Fortress Energy and gave the company an “equal weight” rating in a research report on Tuesday, May 27th. Compass Point assumed coverage on New Fortress Energy in a research report on Tuesday, July 1st. They set a “buy” rating and a $8.50 price target on the stock. Finally, Citigroup decreased their price objective on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, New Fortress Energy has a consensus rating of “Hold” and a consensus price target of $9.75.

New Fortress Energy Stock Up 6.6%

NFE opened at $4.01 on Thursday. The company has a market cap of $1.10 billion, a P/E ratio of -1.78 and a beta of 1.30. The business’s 50-day moving average price is $3.36 and its 200-day moving average price is $8.04. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 4.77. New Fortress Energy LLC has a 12 month low of $2.01 and a 12 month high of $26.22.

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.