New Fortress Energy (NASDAQ:NFE) Reaches New 52-Week Low at $9.39

New Fortress Energy Inc. (NASDAQ:NFE) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $9.39 and last traded at $9.47, with a volume of 3177928 shares trading hands. The stock had previously closed at $10.60.

Analyst Ratings Changes

Several research firms have recently commented on NFE. Barclays decreased their price objective 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 decreased their price objective on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft lowered their price target on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Finally, Stifel Nicolaus decreased their target price on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $23.40.

New Fortress Energy Stock Performance

The company has a 50 day moving average of $15.22 and a two-hundred day moving average of $22.37. 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 company has a market capitalization of $1.95 billion, a PE ratio of 4.31 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results 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). 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 the consensus estimate of $465.52 million. During the same quarter in the previous year, the business earned $0.58 earnings per share. The firm’s revenue was down 23.7% compared to the same quarter last year. As a group, equities research analysts predict that New Fortress Energy Inc. will post 0.58 earnings per share for the current year.

New Fortress Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Friday, September 13th. 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 added to or reduced their stakes in NFE. Charles Schwab Investment Management Inc. lifted its stake in shares of New Fortress Energy by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 408,137 shares of the company’s stock worth $15,399,000 after buying an additional 16,172 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in New Fortress Energy by 21.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,024,178 shares of the company’s stock valued at $38,647,000 after acquiring an additional 179,293 shares in the last quarter. Norges Bank purchased a new stake in New Fortress Energy during the 4th quarter valued at $23,657,000. Franklin Resources Inc. increased its holdings in shares of New Fortress Energy by 5.2% in the 4th quarter. Franklin Resources Inc. now owns 137,995 shares of the company’s stock worth $5,207,000 after purchasing an additional 6,871 shares in the last quarter. Finally, Primecap Management Co. CA raised its stake in shares of New Fortress Energy by 553.0% in the fourth quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company’s stock worth $129,727,000 after purchasing an additional 2,911,800 shares during the last quarter. 58.61% of the stock is 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.