Morgan Stanley Issues Pessimistic Forecast for New Fortress Energy (NASDAQ:NFE) Stock Price

New Fortress Energy (NASDAQ:NFE) had its price target lowered by Morgan Stanley from $15.00 to $14.00 in a research note published on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other analysts also recently weighed in on NFE. Stifel Nicolaus raised their price target on shares of New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.60.

New Fortress Energy Stock Up 7.9 %

NFE stock opened at $9.75 on Tuesday. New Fortress Energy has a twelve month low of $7.82 and a twelve month high of $34.40. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The company has a market capitalization of $2.66 billion, a P/E ratio of 10.71 and a beta of 1.49. The firm has a 50 day simple moving average of $13.66 and a 200-day simple moving average of $11.60.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. On average, equities research analysts predict that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Fortress Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its stake in New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after buying an additional 1,962 shares during the last quarter. KBC Group NV lifted its stake in New Fortress Energy by 116.9% in the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after buying an additional 1,852 shares during the last quarter. US Bancorp DE lifted its stake in New Fortress Energy by 344.6% in the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after buying an additional 2,767 shares during the last quarter. GAMMA Investing LLC lifted its stake in New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after buying an additional 2,370 shares during the last quarter. Finally, Quarry LP bought a new stake in New Fortress Energy in the fourth quarter valued at $64,000. Institutional investors and hedge funds 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.