Brokerages Set New Fortress Energy LLC (NFE) PT at $19.57

New Fortress Energy LLC (NASDAQ:NFE) has been assigned a consensus rating of “Buy” from the eight brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $19.57.

Several equities analysts have recently commented on the stock. Barclays set a $11.00 price objective on shares of New Fortress Energy and gave the stock a “hold” rating in a report on Thursday, March 28th. JMP Securities assumed coverage on shares of New Fortress Energy in a report on Monday, February 25th. They issued a “mkt outperform” rating and a $18.00 price objective on the stock. Citigroup assumed coverage on shares of New Fortress Energy in a report on Monday, February 25th. They issued a “buy” rating on the stock. Evercore ISI assumed coverage on shares of New Fortress Energy in a report on Monday, February 25th. They issued an “outperform” rating and a $23.00 price objective on the stock. Finally, Credit Suisse Group assumed coverage on shares of New Fortress Energy in a report on Monday, February 25th. They issued a “neutral” rating and a $17.00 price objective on the stock.

In other New Fortress Energy news, CEO Wesley R. Edens bought 2,500,000 shares of New Fortress Energy stock in a transaction on Monday, February 4th. The shares were bought at an average cost of $14.00 per share, for a total transaction of $35,000,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director C. William Griffin bought 64,039 shares of New Fortress Energy stock in a transaction on Monday, February 4th. The shares were acquired at an average price of $13.79 per share, for a total transaction of $883,097.81. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 3,740,639 shares of company stock worth $47,473,167.

Shares of NFE stock traded down $0.28 during trading hours on Tuesday, hitting $10.77. The company had a trading volume of 62,528 shares, compared to its average volume of 208,805. New Fortress Energy has a fifty-two week low of $8.90 and a fifty-two week high of $16.11.

About New Fortress Energy

New Fortress Energy LLC operates as an integrated gas-to-power company. The company's activities include natural gas procurement and liquefaction; provision of logistics and shipping services; development and operation of terminals; and conversion or development of natural gas-fired generation. It intends to serve power, transportation, and industrial users of natural gas and LNG.

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Analyst Recommendations for New Fortress Energy (NASDAQ:NFE)

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