Analysts Set New Fortress Energy Inc. (NASDAQ:NFE) PT at $19.77

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have earned a consensus rating of “Hold” from the six analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $19.77.

A number of research firms recently issued reports on NFE. Barclays decreased their target price on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a “sell” rating and issued a $7.60 price objective (down from $21.00) on shares of New Fortress Energy in a research report on Tuesday, October 1st. Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. BTIG Research decreased their price target on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Finally, Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 12th.

Insider Buying and Selling

In other New Fortress Energy news, CEO Wesley R. Edens acquired 5,793,742 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were purchased at an average price of $8.63 per share, with a total value of $49,999,993.46. Following the completion of the acquisition, the chief executive officer now directly owns 35,721,915 shares of the company’s stock, valued at approximately $308,280,126.45. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 37.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Nomura Holdings Inc. purchased a new stake in shares of New Fortress Energy during the 4th quarter valued at $4,207,000. Tortoise Index Solutions LLC raised its holdings in New Fortress Energy by 5.1% in the fourth quarter. Tortoise Index Solutions LLC now owns 129,453 shares of the company’s stock valued at $4,884,000 after buying an additional 6,256 shares during the period. Pinnacle Holdings LLC lifted its position in New Fortress Energy by 37.1% during the fourth quarter. Pinnacle Holdings LLC now owns 55,100 shares of the company’s stock valued at $2,079,000 after buying an additional 14,900 shares in the last quarter. Continuum Advisory LLC boosted its position in New Fortress Energy by 18.9% during the 4th quarter. Continuum Advisory LLC now owns 57,436 shares of the company’s stock worth $2,167,000 after purchasing an additional 9,145 shares during the period. Finally, Electron Capital Partners LLC increased its holdings in New Fortress Energy by 9.4% in the 4th quarter. Electron Capital Partners LLC now owns 1,322,340 shares of the company’s stock valued at $49,892,000 after purchasing an additional 113,835 shares in the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Stock Performance

Shares of NFE stock opened at $9.36 on Tuesday. New Fortress Energy has a 12-month low of $8.20 and a 12-month 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. The company has a market cap of $1.92 billion, a PE ratio of 7.93 and a beta of 1.51. The business’s fifty day simple moving average is $11.62 and its 200-day simple moving average is $20.06.

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

New Fortress Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Friday, September 13th. New Fortress Energy’s dividend payout ratio is presently 33.90%.

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.