Morningstar Investment Management LLC Has $282,000 Stock Position in New Fortress Energy Inc. (NASDAQ:NFE)

Morningstar Investment Management LLC lowered its position in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 54.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,675 shares of the company’s stock after selling 22,010 shares during the quarter. 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 hedge funds and other institutional investors also recently modified their holdings of NFE. Primecap Management Co. CA raised its stake in New Fortress Energy by 43.7% in the third quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company’s stock valued at $104,827,000 after purchasing an additional 3,505,975 shares in the last quarter. American Assets Capital Advisers LLC grew its holdings in shares of New Fortress Energy by 105.7% during the third quarter. American Assets Capital Advisers LLC now owns 1,555,767 shares of the company’s stock worth $14,968,000 after purchasing an additional 799,280 shares during the last quarter. State Street Corp boosted its holdings in New Fortress Energy by 4.9% in the third quarter. State Street Corp now owns 1,205,046 shares of the company’s stock valued at $10,954,000 after acquiring an additional 56,153 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in New Fortress Energy in the fourth quarter valued at approximately $8,316,000. Finally, Holocene Advisors LP boosted its holdings in New Fortress Energy by 107.2% in the third quarter. Holocene Advisors LP now owns 389,698 shares of the company’s stock valued at $3,542,000 after acquiring an additional 201,649 shares during the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Stock Down 2.1 %

Shares of NASDAQ:NFE opened at $12.35 on Thursday. The company has a market capitalization of $3.11 billion, a PE ratio of 13.57 and a beta of 1.49. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The business has a fifty day moving average price of $14.06 and a two-hundred day moving average price of $11.90. New Fortress Energy Inc. has a 1 year low of $7.82 and a 1 year high of $35.58.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target on the stock in a research note on Wednesday, December 4th. Stifel Nicolaus upped their price target on New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.