Geode Capital Management LLC Has $9.62 Million Stock Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Geode Capital Management LLC decreased its position in New Fortress Energy Inc. (NASDAQ:NFE) by 13.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,058,402 shares of the company’s stock after selling 164,633 shares during the quarter. Geode Capital Management LLC’s holdings in New Fortress Energy were worth $9,624,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NFE. Primecap Management Co. CA grew its holdings in shares of New Fortress Energy by 43.7% in the 3rd quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company’s stock valued at $104,827,000 after acquiring an additional 3,505,975 shares in the last quarter. William Blair Investment Management LLC boosted its position in New Fortress Energy by 7.1% during the second quarter. William Blair Investment Management LLC now owns 9,549,412 shares of the company’s stock valued at $209,896,000 after purchasing an additional 633,170 shares during the last quarter. Encompass Capital Advisors LLC grew its stake in New Fortress Energy by 9.0% in the second quarter. Encompass Capital Advisors LLC now owns 4,797,308 shares of the company’s stock valued at $105,445,000 after purchasing an additional 395,740 shares in the last quarter. HITE Hedge Asset Management LLC increased its position in shares of New Fortress Energy by 24.1% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 3,192,129 shares of the company’s stock worth $70,163,000 after purchasing an additional 619,621 shares during the last quarter. Finally, Kailix Advisors LLC raised its stake in shares of New Fortress Energy by 11.9% during the 2nd quarter. Kailix Advisors LLC now owns 2,203,824 shares of the company’s stock worth $50,622,000 after purchasing an additional 234,371 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Trading Up 0.5 %

NFE stock opened at $15.12 on Thursday. New Fortress Energy Inc. has a one year low of $7.82 and a one year high of $38.29. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 16.62 and a beta of 1.60. The company has a fifty day moving average price of $10.94 and a two-hundred day moving average price of $13.54. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BTIG Research decreased their target price on shares of 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. Morgan Stanley downgraded shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $35.00 to $15.00 in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective on the stock in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus raised their target price on shares of New Fortress Energy from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating and two 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 target price of $15.40.

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.