Cetera Investment Advisers Purchases 114,915 Shares of New Fortress Energy LLC (NASDAQ:NFE)

Cetera Investment Advisers boosted its position in New Fortress Energy LLC (NASDAQ:NFE) by 88.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 245,565 shares of the company’s stock after acquiring an additional 114,915 shares during the quarter. Cetera Investment Advisers owned 0.09% of New Fortress Energy worth $2,041,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NFE. JPMorgan Chase & Co. grew its stake in shares of New Fortress Energy by 2.0% during the fourth quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company’s stock worth $730,000 after buying an additional 935 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of New Fortress Energy by 11.2% during the first quarter. Victory Capital Management Inc. now owns 21,474 shares of the company’s stock worth $178,000 after buying an additional 2,157 shares during the last quarter. Deutsche Bank AG grew its stake in shares of New Fortress Energy by 3.0% during the fourth quarter. Deutsche Bank AG now owns 85,206 shares of the company’s stock worth $1,288,000 after buying an additional 2,463 shares during the last quarter. CWM LLC grew its stake in shares of New Fortress Energy by 46.9% during the first quarter. CWM LLC now owns 9,065 shares of the company’s stock worth $75,000 after buying an additional 2,895 shares during the last quarter. Finally, Brown Advisory Inc. grew its stake in shares of New Fortress Energy by 31.0% during the first quarter. Brown Advisory Inc. now owns 13,100 shares of the company’s stock worth $109,000 after buying an additional 3,100 shares during the last quarter. 58.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on NFE shares. Morgan Stanley set a $4.00 target price on shares of New Fortress Energy and gave the stock an “equal weight” rating in a research note on Tuesday, May 27th. BTIG Research cut shares of New Fortress Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, June 26th. New Street Research set a $8.50 price objective on New Fortress Energy in a report on Monday, June 30th. Compass Point began coverage on New Fortress Energy in a research report on Tuesday, July 1st. They set a “buy” rating and a $8.50 target price for the company. Finally, Stifel Nicolaus cut their target price on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, New Fortress Energy has an average rating of “Moderate Buy” and a consensus price target of $8.43.

New Fortress Energy Stock Up 2.7%

Shares of NFE opened at $3.06 on Friday. The company has a market capitalization of $839.05 million, a PE ratio of -1.36 and a beta of 1.08. New Fortress Energy LLC has a 12 month low of $2.01 and a 12 month high of $17.04. The stock’s 50-day moving average price is $3.23 and its two-hundred day moving average price is $6.75. 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 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.