New Fortress Energy (NASDAQ:NFE) Shares Down 2.8%

Shares of New Fortress Energy Inc. (NASDAQ:NFE) traded down 2.8% on Tuesday . The stock traded as low as $11.82 and last traded at $11.82. 612,875 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 2,212,354 shares. The stock had previously closed at $12.16.

Analyst Ratings Changes

A number of equities analysts have issued reports on NFE shares. Barclays cut their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. BTIG Research reduced their price target on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. Stifel Nicolaus decreased their price target on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of New Fortress Energy from $26.00 to $21.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.40.

New Fortress Energy Trading Down 0.3 %

The company has a debt-to-equity ratio of 4.38, a current ratio of 0.72 and a quick ratio of 0.63. The firm has a market capitalization of $2.17 billion, a PE ratio of 4.92 and a beta of 1.53. The firm’s fifty day moving average is $15.65 and its two-hundred day moving average is $22.68.

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

New Fortress Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.10 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 3.77%. New Fortress Energy’s payout ratio is 18.18%.

Institutional Investors Weigh In On New Fortress Energy

Several large investors have recently added to or reduced their stakes in the company. American National Bank purchased a new position in New Fortress Energy in the 2nd quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. grew its position 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 purchasing an additional 1,178 shares in the last quarter. Quarry LP raised its stake in shares of New Fortress Energy by 125.7% during the 2nd quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after purchasing an additional 1,253 shares during the period. Meeder Asset Management Inc. purchased a new stake in New Fortress Energy during the 1st quarter worth about $95,000. Finally, Kapitalo Investimentos Ltda bought a new position in New Fortress Energy in the 4th quarter worth about $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.