New Fortress Energy (NASDAQ:NFE) Price Target Lowered to $14.00 at Morgan Stanley

New Fortress Energy (NASDAQ:NFE) had its price target reduced by equities researchers at Morgan Stanley from $15.00 to $14.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 60.16% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of New Fortress Energy from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $15.20.

New Fortress Energy Trading Down 3.3 %

Shares of NASDAQ:NFE traded down $0.30 during mid-day trading on Tuesday, reaching $8.74. 1,816,367 shares of the company’s stock were exchanged, compared to its average volume of 4,251,744. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. New Fortress Energy has a twelve month low of $7.82 and a twelve month high of $34.40. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 9.50 and a beta of 1.49. The business’s fifty day moving average price is $13.75 and its 200-day moving average price is $11.63.

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

Institutional Investors Weigh In On New Fortress Energy

Hedge funds have recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in shares of New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after acquiring an additional 1,852 shares during the last quarter. US Bancorp DE increased its position in New Fortress Energy by 344.6% in the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after buying an additional 2,767 shares during the last quarter. Allworth Financial LP raised its stake in New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after acquiring an additional 1,962 shares during the period. GAMMA Investing LLC lifted its stake in shares of New Fortress Energy by 148.5% during the 4th 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 in the last quarter. Finally, Quarry LP purchased a new stake in shares of New Fortress Energy during the fourth quarter worth $64,000. 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.