Teacher Retirement System of Texas Takes Position in New Fortress Energy LLC (NASDAQ:NFE)

Teacher Retirement System of Texas bought a new position in shares of New Fortress Energy LLC (NASDAQ:NFE) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,653 shares of the company’s stock, valued at approximately $130,000.

A number of other large investors also recently bought and sold shares of the stock. Western Wealth Management LLC increased its stake in shares of New Fortress Energy by 19.6% in the 1st quarter. Western Wealth Management LLC now owns 45,351 shares of the company’s stock worth $377,000 after acquiring an additional 7,446 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of New Fortress Energy by 101.9% during the first quarter. Golden State Wealth Management LLC now owns 15,751 shares of the company’s stock worth $131,000 after acquiring an additional 7,951 shares during the period. Exchange Traded Concepts LLC raised its holdings in New Fortress Energy by 43.2% in the first quarter. Exchange Traded Concepts LLC now owns 325,760 shares of the company’s stock valued at $2,707,000 after acquiring an additional 98,248 shares in the last quarter. Ullmann Wealth Partners Group LLC raised its stake in New Fortress Energy by 31.4% in the first quarter. Ullmann Wealth Partners Group LLC now owns 37,479 shares of the company’s stock valued at $311,000 after buying an additional 8,953 shares in the last quarter. Finally, Hardin Capital Partners LLC acquired a new position in New Fortress Energy in the first quarter valued at approximately $83,000. 58.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup reduced their price objective on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Morgan Stanley set a $4.00 price target on New Fortress Energy and gave the stock an “equal weight” rating in a research note on Tuesday, May 27th. Stifel Nicolaus cut their price target on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. New Street Research set a $8.50 target price on shares of New Fortress Energy in a research note on Monday, June 30th. Finally, Compass Point initiated coverage on shares of New Fortress Energy in a research report on Tuesday, July 1st. They issued a “buy” rating and a $8.50 price objective for the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.75.

New Fortress Energy Trading Down 8.5%

Shares of New Fortress Energy stock opened at $4.18 on Tuesday. The company’s fifty day simple moving average is $3.24 and its 200-day simple moving average is $7.70. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -1.86 and a beta of 1.30. 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 1 year low of $2.01 and a 1 year high of $26.22.

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.