New Fortress Energy (NASDAQ:NFE) Sets New 1-Year Low at $9.39

New Fortress Energy Inc. (NASDAQ:NFE)’s share price reached a new 52-week low on Friday . The company traded as low as $9.39 and last traded at $9.47, with a volume of 3177928 shares. The stock had previously closed at $10.60.

Analyst Ratings Changes

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

New Fortress Energy Trading Down 10.3 %

The stock’s fifty day simple moving average is $15.45 and its 200-day simple moving average is $22.60. 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 cap of $1.95 billion, a PE ratio of 4.55 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results 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). The firm had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $465.52 million. New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The business’s revenue was down 23.7% on a year-over-year basis. During the same quarter last year, the business earned $0.58 EPS. On average, sell-side analysts forecast that New Fortress Energy Inc. will post 0.58 earnings per share for the current year.

New Fortress Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 4.21%. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. raised its stake in shares of New Fortress Energy by 21.5% during the 4th quarter. Victory Capital Management Inc. now owns 16,103 shares of the company’s stock valued at $608,000 after buying an additional 2,848 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in New Fortress Energy by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 408,137 shares of the company’s stock valued at $15,399,000 after acquiring an additional 16,172 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 acquiring an additional 179,293 shares during the period. Norges Bank purchased a new stake in New Fortress Energy in the 4th quarter worth approximately $23,657,000. Finally, Franklin Resources Inc. grew its stake in shares of New Fortress Energy by 5.2% during 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 during the period. Hedge funds and other institutional investors own 58.61% of the company’s stock.

About New Fortress Energy

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.