New Fortress Energy (NASDAQ:NFE) Sets New 1-Year Low at $20.51

New Fortress Energy Inc. (NASDAQ:NFE) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $20.51 and last traded at $20.86, with a volume of 241485 shares changing hands. The stock had previously closed at $20.85.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their target price on New Fortress Energy from $35.00 to $33.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Stifel Nicolaus reduced their price objective on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Finally, Barclays reduced their price objective 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.17.

New Fortress Energy Stock Performance

The firm has a 50 day simple moving average of $24.90 and a 200-day simple moving average of $30.25. The company has a debt-to-equity ratio of 3.74, a current ratio of 0.66 and a quick ratio of 0.54. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 9.60 and a beta of 1.50.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. The company had revenue of $690.30 million during the quarter, compared to analysts’ expectations of $602.41 million. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, analysts predict that New Fortress Energy Inc. will post 1.99 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.40 annualized dividend and a yield of 1.89%. New Fortress Energy’s payout ratio is 18.18%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors lifted its holdings in New Fortress Energy by 1.5% during the 1st quarter. Capital World Investors now owns 15,182,319 shares of the company’s stock worth $464,427,000 after buying an additional 217,697 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in New Fortress Energy by 31.0% during the 1st quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock worth $272,748,000 after buying an additional 2,111,360 shares during the last quarter. Vanguard Group Inc. lifted its holdings in New Fortress Energy by 41.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock worth $278,035,000 after buying an additional 2,482,627 shares during the last quarter. Primecap Management Co. CA lifted its holdings in New Fortress Energy by 553.0% during the 4th quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company’s stock worth $129,727,000 after buying an additional 2,911,800 shares during the last quarter. Finally, Kailix Advisors LLC lifted its holdings in New Fortress Energy by 83.6% during the 1st quarter. Kailix Advisors LLC now owns 1,969,453 shares of the company’s stock worth $60,246,000 after buying an additional 896,671 shares during the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.

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.