ETF Movers on Friday: LIT and TPYP
Written by Emily J. Thompson, Senior Investment Analyst
Source: NASDAQ.COM
ETF Performance: The Tortoise North American Pipeline Fund ETF is underperforming, down approximately 0.8% in Friday afternoon trading.
Weakest Components: Key components contributing to the ETF's decline include Targa Resources and New Fortress Energy, both down about 2% on the day.
Market Context: The article mentions the broader context of ETF movements, highlighting other ETFs like LIT and TPYP.
Author's Perspective: The views expressed in the article are those of the author and do not necessarily represent Nasdaq, Inc.
Analyst Views on NFE
Wall Street analysts forecast NFE stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for NFE is 1.00 USD with a low forecast of 1.00 USD and a high forecast of 1.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
0 Buy
1 Hold
0 Sell
Hold
Current: 1.700
Low
1.00
Averages
1.00
High
1.00
Current: 1.700
Low
1.00
Averages
1.00
High
1.00
About NFE
New Fortress Energy Inc. is a global energy infrastructure company. The Company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to deliver turnkey energy solutions to global markets. Its segments include Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment includes the entire production and delivery chain from natural gas procurement and liquefaction to logistics, shipping, facilities and conversion or development of natural gas-fired power generation. The Company sources LNG from long-term supply agreements with third-party suppliers. The Terminals and Infrastructure segment includes all terminal operations in Puerto Rico, Mexico and Brazil, as well as vessels utilized in its terminal or logistics operations. The Ships segment includes certain vessels which are chartered under long-term arrangements to third parties and are part of the Energos Formation Transaction.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
