New Fortress Energy Inc. (NASDAQ:NFE) Receives $13.83 Average Target Price from Brokerages

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $13.83.

NFE has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a report on Wednesday, March 12th. Morgan Stanley decreased their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Citigroup lowered their price target on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th.

Insider Buying and Selling

In other news, CFO Christopher S. Guinta purchased 5,000 shares of New Fortress Energy stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the transaction, the chief financial officer now directly owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 37.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On New Fortress Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NFE. Brandywine Global Investment Management LLC bought a new position in New Fortress Energy during the 4th quarter valued at about $19,618,000. Raymond James Financial Inc. purchased a new position in shares of New Fortress Energy during the fourth quarter valued at approximately $787,000. Huber Capital Management LLC lifted its position in New Fortress Energy by 44.9% during the fourth quarter. Huber Capital Management LLC now owns 1,231,644 shares of the company’s stock valued at $18,622,000 after purchasing an additional 381,758 shares during the period. Norges Bank bought a new position in New Fortress Energy during the fourth quarter valued at approximately $10,135,000. Finally, Stifel Financial Corp purchased a new stake in New Fortress Energy in the third quarter worth approximately $990,000. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Price Performance

Shares of NASDAQ NFE opened at $5.90 on Wednesday. New Fortress Energy has a 1 year low of $4.80 and a 1 year high of $29.46. The stock has a market capitalization of $1.62 billion, a P/E ratio of 6.48 and a beta of 1.52. The company’s 50-day moving average is $9.76 and its 200 day moving average is $10.99. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35.

New Fortress Energy (NASDAQ:NFE) last posted its 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 return on equity of 15.60% and a net margin of 7.84%. The firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. On average, sell-side analysts expect that New Fortress Energy will post 0.36 earnings per share for the current year.

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.