Morgan Stanley Initiates Research Coverage of New Fortress Energy

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(Fairfield Current, Lisa Matthews, 28.Feb.2019) — Morgan Stanley started coverage on shares of New Fortress Energy (NASDAQ:NFE) in a research note released on Monday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $19.00 target price on the stock.

Several other equities analysts also recently issued reports on the stock. Stifel Nicolaus started coverage on shares of New Fortress Energy in a research note on Monday. They set a buy rating and a $27.00 price target for the company. Wolfe Research started coverage on shares of New Fortress Energy in a research report on Thursday, February 21st. They set an outperform rating and a $20.00 price objective for the company. Citigroup started coverage on shares of New Fortress Energy in a research report on Monday. They set a buy rating for the company. JMP Securities started coverage on shares of New Fortress Energy in a research report on Monday. They set a mkt outperform rating and a $18.00 price objective for the company. Finally, Barclays started coverage on shares of New Fortress Energy in a research report on Monday. They set an equal weight rating and a $16.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. New Fortress Energy presently has a consensus rating of Buy and a consensus price target of $20.00.

NFE stock opened at $15.64 on Monday. New Fortress Energy has a 52-week low of $12.90 and a 52-week high of $15.83.

In other news, CEO Wesley R. Edens acquired 2,500,000 shares of the firm’s stock in a transaction dated Monday, February 4th. The stock was bought at an average cost of $14.00 per share, for a total transaction of $35,000,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C. William Griffin acquired 64,039 shares of the firm’s stock in a transaction dated Monday, February 4th. The shares were purchased at an average price of $13.79 per share, with a total value of $883,097.81. The disclosure for this purchase can be found here.

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