02:24 PM EST, 11/21/2024 (MT Newswires) -- New Fortress Energy's ( NFE ) liquefied natural gas production and distribution business in Miami has been acquired by Pennybacker Capital Management, Pennybacker said Thursday.

An agreement for the sale of the business was first disclosed on July 1 by New Fortress Energy ( NFE ).

Financial terms of the transaction weren't provided.

Shares of New Fortress were up 3% in recent trading.

Price: 9.46, Change: +0.28, Percent Change: +3.05