New Fortress Energy (NASDAQ:NFE) Shares Gap Up to $21.11

New Fortress Energy Inc. (NASDAQ:NFE) shares gapped up before the market opened on Friday . The stock had previously closed at $21.11, but opened at $22.35. New Fortress Energy shares last traded at $21.57, with a volume of 349,332 shares traded.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Barclays lowered their price objective on 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. Stifel Nicolaus lowered 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. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of New Fortress Energy from $35.00 to $33.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.17.

New Fortress Energy Stock Performance

The business has a fifty day moving average of $24.78 and a 200 day moving average of $30.09. The company has a market cap of $4.51 billion, a P/E ratio of 9.99 and a beta of 1.50. 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 issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $690.30 million during the quarter, compared to analyst estimates of $602.41 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS. On average, equities analysts predict that New Fortress Energy Inc. will post 1.99 EPS for the current 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 $0.10 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.40 annualized dividend and a yield of 1.82%. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.

Institutional Investors Weigh In On New Fortress Energy

Several hedge funds have recently made changes to their positions in NFE. Virtu Financial LLC purchased a new position in New Fortress Energy during the 1st quarter valued at about $1,036,000. Comerica Bank increased its stake in shares of New Fortress Energy by 1,775.9% during the first quarter. Comerica Bank now owns 27,445 shares of the company’s stock valued at $840,000 after purchasing an additional 25,982 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of New Fortress Energy by 10.9% during the first quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock valued at $315,000 after purchasing an additional 1,009 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of New Fortress Energy by 187.5% in the 1st quarter. Janus Henderson Group PLC now owns 88,668 shares of the company’s stock worth $2,712,000 after purchasing an additional 57,823 shares in the last quarter. Finally, Bayesian Capital Management LP boosted its position in shares of New Fortress Energy by 42.1% in the 1st quarter. Bayesian Capital Management LP now owns 32,422 shares of the company’s stock worth $992,000 after purchasing an additional 9,600 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.

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.