Stifel Nicolaus Increases New Fortress Energy (NASDAQ:NFE) Price Target to $17.00

New Fortress Energy (NASDAQ:NFE) had its target price boosted by research analysts at Stifel Nicolaus from $16.00 to $17.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 17.32% from the company’s current price.

A number of other equities research analysts have also recently issued reports on NFE. BTIG Research reduced 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 report on Friday, September 13th. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a report on Wednesday, December 4th. Finally, Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $35.00 to $15.00 in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, New Fortress Energy has a consensus rating of “Hold” and a consensus price target of $15.40.

New Fortress Energy Stock Performance

Shares of NFE stock opened at $14.49 on Monday. New Fortress Energy has a 52 week low of $7.82 and a 52 week high of $39.26. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 15.92 and a beta of 1.60. The company has a 50-day simple moving average of $10.13 and a 200 day simple moving average of $13.86. 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 New Fortress Energy news, CEO Wesley R. Edens purchased 5,793,742 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were bought at an average price of $8.63 per share, for a total transaction of $49,999,993.46. Following the purchase, the chief executive officer now owns 35,721,915 shares in the company, valued at approximately $308,280,126.45. This trade represents a 19.36 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 37.10% of the stock is currently owned by company insiders.

Institutional Trading of New Fortress Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new position in New Fortress Energy during the third quarter worth about $25,000. KBC Group NV grew its holdings in shares of New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after purchasing an additional 1,852 shares during the last quarter. US Bancorp DE grew its holdings in shares of New Fortress Energy by 344.6% during the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after purchasing an additional 2,767 shares during the last quarter. Signaturefd LLC increased its position in New Fortress Energy by 409.1% during the 3rd quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock worth $37,000 after purchasing an additional 3,314 shares in the last quarter. Finally, Quarry LP lifted its stake in New Fortress Energy by 125.7% in the 2nd quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after purchasing an additional 1,253 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors.

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.