New Fortress Energy Inc. (NASDAQ:NFE) Given Average Recommendation of “Moderate Buy” by Analysts

New Fortress Energy Inc. (NASDAQ:NFE) has received an average rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $39.17.

A number of equities research analysts have weighed in on NFE shares. Stifel Nicolaus cut their price target on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of New Fortress Energy from $35.00 to $33.00 and set a “hold” rating for the company in a report on Thursday, May 9th. Finally, Barclays cut their price target on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, May 6th.

New Fortress Energy Stock Performance

NFE stock opened at $19.98 on Friday. The company has a market capitalization of $4.10 billion, a P/E ratio of 9.08 and a beta of 1.49. The company has a 50-day simple moving average of $24.46 and a 200 day simple moving average of $29.80. New Fortress Energy has a fifty-two week low of $19.77 and a fifty-two week high of $40.04. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 3.74.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The business had revenue of $690.30 million during the quarter, compared to the consensus estimate of $602.41 million. During the same quarter in the prior year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. Sell-side analysts predict that New Fortress Energy will post 1.99 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Saturday, June 15th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.40 annualized dividend and a yield of 2.00%. New Fortress Energy’s payout ratio is presently 18.18%.

Institutional Trading of New Fortress Energy

Several institutional investors and hedge funds have recently bought and sold shares of NFE. Primecap Management Co. CA increased its holdings in shares of New Fortress Energy by 553.0% in the 4th quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company’s stock valued at $129,727,000 after purchasing an additional 2,911,800 shares during the period. Vanguard Group Inc. increased its holdings in shares of New Fortress Energy by 41.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock valued at $278,035,000 after purchasing an additional 2,482,627 shares during the period. William Blair Investment Management LLC increased its holdings in shares of New Fortress Energy by 31.0% in the 1st quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock valued at $272,748,000 after purchasing an additional 2,111,360 shares during the period. M&G Plc acquired a new position in shares of New Fortress Energy in the 1st quarter valued at about $51,569,000. Finally, Capital World Investors increased its holdings in shares of New Fortress Energy by 8.3% in the 4th quarter. Capital World Investors now owns 14,964,622 shares of the company’s stock valued at $564,615,000 after purchasing an additional 1,152,125 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

About New Fortress Energy

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.