New Fortress Energy Inc. (NASDAQ:NFE) Receives $39.17 Consensus Target Price from Analysts

New Fortress Energy Inc. (NASDAQ:NFE) has been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the company, MarketBeat.com 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 price target among analysts that have updated their coverage on the stock in the last year is $39.17.

NFE has been the topic of a number of research reports. Barclays lowered their target price on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday, May 6th. Stifel Nicolaus decreased their price target on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of New Fortress Energy from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. increased its position in shares of New Fortress Energy by 563.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock valued at $42,000 after purchasing an additional 1,178 shares during the last quarter. Meeder Asset Management Inc. bought a new position in New Fortress Energy during the first quarter valued at approximately $95,000. Kapitalo Investimentos Ltda purchased a new position in shares of New Fortress Energy during the fourth quarter worth approximately $119,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of New Fortress Energy in the 4th quarter worth approximately $210,000. Finally, Wellington Shields & Co. LLC boosted its stake in shares of New Fortress Energy by 34.1% in the 1st quarter. Wellington Shields & Co. LLC now owns 6,066 shares of the company’s stock valued at $186,000 after purchasing an additional 1,544 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Stock Performance

NASDAQ:NFE opened at $21.98 on Friday. The company has a market capitalization of $4.51 billion, a PE ratio of 9.99 and a beta of 1.50. New Fortress Energy has a fifty-two week low of $20.45 and a fifty-two week high of $40.04. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.54 and a current ratio of 0.66. The company has a 50 day simple moving average of $24.78 and a two-hundred day simple moving average of $30.05.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the firm earned $0.90 earnings per share. New Fortress Energy’s quarterly revenue was up 19.2% on a year-over-year basis. Research analysts anticipate that New Fortress Energy will post 1.99 earnings per share for the current year.

New Fortress Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Saturday, June 15th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Friday, June 14th. New Fortress Energy’s dividend payout ratio is 18.18%.

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.