New Fortress Energy (NASDAQ:NFE – Get Rating) had its price target increased by Morgan Stanley from $54.00 to $58.00 in a report issued on Monday, Marketbeat reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 5.61% from the company’s previous close.
Several other equities research analysts have also recently issued reports on the stock. TheStreet upgraded shares of New Fortress Energy from a “c” rating to a “b-” rating in a report on Thursday, May 5th. Citigroup started coverage on shares of New Fortress Energy in a research note on Thursday, July 14th. They set a “buy” rating and a $56.00 price target for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.57.
New Fortress Energy Price Performance
Shares of NFE opened at $54.92 on Monday. The stock has a market cap of $11.36 billion, a PE ratio of 55.48 and a beta of 1.62. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.95 and a current ratio of 1.05. New Fortress Energy has a fifty-two week low of $19.17 and a fifty-two week high of $55.09. The firm’s 50-day simple moving average is $43.81 and its two-hundred day simple moving average is $38.05.
Institutional Trading of New Fortress Energy
Several hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank acquired a new stake in New Fortress Energy in the second quarter valued at approximately $3,858,000. Shell Asset Management Co. acquired a new stake in New Fortress Energy during the second quarter worth approximately $131,000. Baird Financial Group Inc. acquired a new stake in New Fortress Energy during the second quarter worth approximately $371,000. Prospera Financial Services Inc acquired a new stake in New Fortress Energy during the second quarter worth approximately $878,000. Finally, State Board of Administration of Florida Retirement System raised its holdings in New Fortress Energy by 216.9% during the second quarter. State Board of Administration of Florida Retirement System now owns 23,797 shares of the company’s stock worth $942,000 after purchasing an additional 16,287 shares in the last quarter. Institutional investors and hedge funds own 49.35% of the company’s stock.
About New Fortress Energy
New Fortress Energy Inc operates as an integrated gas-to-power 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.
Further Reading
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Source: defenseworld.net
