Analysts Set New Fortress Energy Inc. (NASDAQ:NFE) Price Target at $19.77

New Fortress Energy Inc. (NASDAQ:NFE) has received an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $19.77.

Several equities research analysts have recently issued reports on NFE shares. Morgan Stanley lowered shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $35.00 to $15.00 in a research note on Thursday, October 3rd. Barclays decreased their target price on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. BTIG Research dropped their price target on 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. Stifel Nicolaus decreased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and set a $7.60 price objective (down from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st.

Insider Activity

In other New Fortress Energy news, CEO Wesley R. Edens acquired 5,793,742 shares of the stock in a transaction dated Tuesday, October 1st. The stock was purchased at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the acquisition, the chief executive officer now owns 35,721,915 shares in the company, valued at $308,280,126.45. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On New Fortress Energy

Institutional investors have recently bought and sold shares of the stock. American National Bank purchased a new stake in New Fortress Energy during the 2nd quarter valued at $26,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of New Fortress Energy by 563.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock worth $42,000 after purchasing an additional 1,178 shares during the period. Quarry LP grew its stake in shares of New Fortress Energy by 125.7% in the second quarter. Quarry LP now owns 2,250 shares of the company’s stock worth $49,000 after purchasing an additional 1,253 shares during the last quarter. ORG Partners LLC increased its holdings in New Fortress Energy by 987.8% during the 2nd quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock valued at $77,000 after purchasing an additional 3,408 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in New Fortress Energy during the 1st quarter valued at approximately $95,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

New Fortress Energy Stock Performance

Shares of NFE opened at $9.30 on Tuesday. The firm has a market capitalization of $1.91 billion, a P/E ratio of 4.23 and a beta of 1.51. New Fortress Energy has a 52 week low of $8.20 and a 52 week high of $40.04. The stock has a 50 day moving average price of $11.78 and a two-hundred day moving average price of $20.27. The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.63 and a current ratio of 0.72.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $428.00 million during the quarter, compared to the consensus estimate of $465.52 million. During the same period in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was down 23.7% on a year-over-year basis. Equities analysts forecast that New Fortress Energy will post 0.54 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.10 per share. The ex-dividend date was Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 4.30%. New Fortress Energy’s 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.