New Fortress Energy (NASDAQ:NFE) Trading Up 5.2%

New Fortress Energy Inc. (NASDAQ:NFE)’s stock price rose 5.2% on Monday . The stock traded as high as $9.98 and last traded at $9.98. Approximately 1,727,711 shares changed hands during trading, a decline of 23% from the average daily volume of 2,250,475 shares. The stock had previously closed at $9.49.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NFE shares. Barclays decreased their price target on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. BTIG Research lowered their target price on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Stifel Nicolaus reduced their target price on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of New Fortress Energy from $26.00 to $21.00 and set a “hold” rating on the stock in a research 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.40.

New Fortress Energy Price Performance

The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 4.48 and a beta of 1.53. The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.63 and a current ratio of 0.72. The company’s fifty day moving average is $15.22 and its two-hundred day moving average is $22.29.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). The company 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 firm’s revenue was down 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 EPS. Equities research analysts forecast that New Fortress Energy Inc. will post 0.58 EPS for the current year.

New Fortress Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 4.10%. New Fortress Energy’s dividend payout ratio (DPR) is 18.18%.

Institutional Trading of New Fortress Energy

Several hedge funds have recently made changes to their positions in the stock. American National Bank bought a new position in shares of New Fortress Energy in the second quarter valued at $26,000. Benjamin F. Edwards & Company Inc. boosted its holdings in 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 valued at $42,000 after acquiring an additional 1,178 shares during the period. Quarry LP lifted its holdings in shares of New Fortress Energy by 125.7% during the second quarter. Quarry LP now owns 2,250 shares of the company’s stock worth $49,000 after buying an additional 1,253 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of New Fortress Energy during the 1st quarter worth about $95,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of New Fortress Energy in the 4th quarter worth approximately $119,000. 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.