New Fortress Energy Inc. (NASDAQ:NFE) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its position in New Fortress Energy Inc. (NASDAQ:NFE) by 8.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 161,095 shares of the company’s stock after buying an additional 12,587 shares during the quarter. Franklin Resources Inc.’s holdings in New Fortress Energy were worth $1,555,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NFE. Bank of New York Mellon Corp lifted its holdings in shares of New Fortress Energy by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 468,056 shares of the company’s stock valued at $10,288,000 after buying an additional 45,924 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of New Fortress Energy by 4.8% in the second quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock valued at $477,000 after buying an additional 999 shares during the period. Versor Investments LP acquired a new stake in shares of New Fortress Energy in the second quarter valued at $268,000. Kailix Advisors LLC lifted its holdings in shares of New Fortress Energy by 11.9% in the second quarter. Kailix Advisors LLC now owns 2,203,824 shares of the company’s stock valued at $50,622,000 after buying an additional 234,371 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of New Fortress Energy by 7.7% in the second quarter. Victory Capital Management Inc. now owns 14,933 shares of the company’s stock valued at $328,000 after buying an additional 1,062 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NFE shares. 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 research report on Monday, December 23rd. Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. 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 report on Wednesday, December 4th. Finally, BTIG Research reduced their price objective on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.40.

New Fortress Energy Trading Down 0.4 %

Shares of NASDAQ NFE opened at $14.45 on Friday. The business has a 50 day simple moving average of $10.44 and a 200 day simple moving average of $13.81. New Fortress Energy Inc. has a 52 week low of $7.82 and a 52 week high of $39.05. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 15.88 and a beta of 1.60. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.

Insider Buying and Selling

In other news, CEO Wesley R. Edens bought 5,793,742 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was purchased at an average price of $8.63 per share, with a total value of $49,999,993.46. Following the transaction, the chief executive officer now directly owns 35,721,915 shares in the company, valued at approximately $308,280,126.45. The trade was 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.

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.