New Fortress Energy (NASDAQ:NFE) Shares Gap Up to $21.11

Shares of New Fortress Energy Inc. (NASDAQ:NFE) gapped up before the market opened on Friday . The stock had previously closed at $21.11, but opened at $22.35. New Fortress Energy shares last traded at $21.57, with a volume of 349,332 shares traded.

Analysts Set New Price Targets

NFE has been the topic of several research reports. Barclays cut their price objective on shares of 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 reduced their price objective 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 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, New Fortress Energy currently has a consensus rating of “Moderate Buy” and an average target price of $39.17.

New Fortress Energy Stock Up 4.1 %

The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 3.74. The firm has a fifty day moving average of $24.78 and a 200-day moving average of $30.09. The firm has a market cap of $4.51 billion, a P/E ratio of 9.99 and a beta of 1.50.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $690.30 million for 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 business’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 EPS. On average, equities research analysts anticipate that New Fortress Energy Inc. will post 1.99 earnings per share for the current year.

New Fortress Energy Dividend Announcement

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

Institutional Trading of New Fortress Energy

Several institutional investors and hedge funds have recently bought and sold shares of NFE. M&G Investment Management Ltd. increased its holdings in shares of New Fortress Energy by 70.3% during the 4th quarter. M&G Investment Management Ltd. now owns 1,537,323 shares of the company’s stock worth $58,418,000 after acquiring an additional 634,851 shares during the last quarter. Electron Capital Partners LLC boosted its position in New Fortress Energy by 9.4% during the fourth quarter. Electron Capital Partners LLC now owns 1,322,340 shares of the company’s stock worth $49,892,000 after purchasing an additional 113,835 shares during the period. Nomura Holdings Inc. acquired a new position in shares of New Fortress Energy in the fourth quarter valued at $4,207,000. Dimensional Fund Advisors LP raised its position in shares of New Fortress Energy by 21.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,024,178 shares of the company’s stock valued at $38,647,000 after purchasing an additional 179,293 shares during the period. Finally, Mackenzie Financial Corp acquired a new stake in shares of New Fortress Energy during the 4th quarter worth about $3,021,000. 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.