Analysts Set New Fortress Energy Inc. (NASDAQ:NFE) PT at $39.17

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have been assigned an average rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $38.00.

NFE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on New Fortress Energy from $33.00 to $26.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Barclays dropped 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 research report on Monday, May 6th. Finally, Stifel Nicolaus decreased their price target on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, May 9th.

New Fortress Energy Stock Down 0.8 %

Shares of NASDAQ NFE opened at $20.17 on Tuesday. The firm has a market cap of $4.14 billion, a P/E ratio of 9.17 and a beta of 1.49. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.54 and a current ratio of 0.66. New Fortress Energy has a 1 year low of $19.02 and a 1 year high of $40.04. The firm’s 50 day moving average price is $22.57 and its 200 day moving average price is $27.86.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $690.30 million for the quarter, compared to analysts’ expectations of $602.41 million. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The business’s revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, sell-side analysts anticipate that New Fortress Energy will post 2.03 earnings per share for the current year.

New Fortress Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Saturday, June 15th were paid 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 1.98%. New Fortress Energy’s dividend payout ratio is currently 18.18%.

Hedge Funds Weigh In On New Fortress Energy

A number of hedge funds have recently made changes to their positions in NFE. American National Bank acquired a new stake in New Fortress Energy in the 2nd quarter valued at $26,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of New Fortress Energy by 563.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock valued at $42,000 after buying an additional 1,178 shares in the last quarter. ORG Partners LLC grew its stake in shares of New Fortress Energy by 987.8% in the second quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock valued at $77,000 after buying an additional 3,408 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of New Fortress Energy during the 1st quarter valued at about $95,000. Finally, Kapitalo Investimentos Ltda acquired a new position in New Fortress Energy during the 4th quarter worth approximately $119,000. 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.