New Fortress Energy Inc. (NASDAQ:NFE) Receives $26.67 Consensus PT from Analysts

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have received a consensus rating of “Hold” from the five analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $23.40.

NFE has been the subject of several recent analyst reports. Barclays lowered their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. BTIG Research lowered their price target on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft lowered their price target on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a report on Monday, August 12th. Finally, Stifel Nicolaus lowered their price target on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 12th.

New Fortress Energy Trading Down 7.2 %

New Fortress Energy stock opened at $11.29 on Friday. The stock has a market cap of $2.32 billion, a PE ratio of 5.13 and a beta of 1.53. The stock has a 50-day moving average price of $15.83 and a 200 day moving average price of $22.77. New Fortress Energy has a 52 week low of $9.44 and a 52 week high of $40.04. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.50). The business had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $465.52 million. New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. The firm’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 EPS. Equities research analysts predict that New Fortress Energy will post 0.58 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Friday, September 13th. New Fortress Energy’s payout ratio is currently 18.18%.

Institutional Trading of New Fortress Energy

A number of institutional investors have recently modified their holdings of NFE. Victory Capital Management Inc. lifted its position in New Fortress Energy by 21.5% during the 4th quarter. Victory Capital Management Inc. now owns 16,103 shares of the company’s stock worth $608,000 after acquiring an additional 2,848 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in New Fortress Energy by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 408,137 shares of the company’s stock worth $15,399,000 after acquiring an additional 16,172 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in New Fortress Energy by 21.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,024,178 shares of the company’s stock worth $38,647,000 after acquiring an additional 179,293 shares in the last quarter. Norges Bank acquired a new position in New Fortress Energy during the 4th quarter worth approximately $23,657,000. Finally, Franklin Resources Inc. lifted its position in New Fortress Energy by 5.2% during the 4th quarter. Franklin Resources Inc. now owns 137,995 shares of the company’s stock worth $5,207,000 after acquiring an additional 6,871 shares in the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Company Profile

New Fortress Energy Inc operates as an integrated gas-to-power energy 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.