New Fortress Energy (NASDAQ:NFE) Reaches New 12-Month Low – Should You Sell?

New Fortress Energy Inc. (NASDAQ:NFE) shares reached a new 52-week low during trading on Friday . The stock traded as low as $8.13 and last traded at $8.19, with a volume of 1412252 shares trading hands. The stock had previously closed at $8.41.

Analyst Ratings Changes

NFE has been the topic of several research reports. Barclays cut their price objective on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. BTIG Research cut their price objective on shares of 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. Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $35.00 to $15.00 in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and issued a $7.60 price objective (down from $21.00) on shares of New Fortress Energy in a research report on Tuesday, October 1st. Finally, Stifel Nicolaus cut their price target on shares of 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. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.77.

New Fortress Energy Stock Performance

The stock’s 50-day simple moving average is $10.03 and its 200-day simple moving average is $17.89. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 6.78 and a beta of 1.53. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38.

New Fortress Energy (NASDAQ:NFE) last issued 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). 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 for the quarter, compared to the consensus estimate of $465.52 million. During the same period last year, the company posted $0.58 EPS. The business’s revenue was down 23.7% on a year-over-year basis. Analysts forecast that New Fortress Energy Inc. will post 0.52 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend was Friday, September 13th. New Fortress Energy’s payout ratio is 33.90%.

Insider Activity at New Fortress Energy

In other New Fortress Energy news, CEO Wesley R. Edens purchased 5,793,742 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was purchased at an average price of $8.63 per share, with a total value of $49,999,993.46. Following the completion of the purchase, the chief executive officer now owns 35,721,915 shares of the company’s stock, valued at approximately $308,280,126.45. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 37.10% of the stock is owned by insiders.

Institutional Investors Weigh In On New Fortress Energy

Several large investors have recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in shares of New Fortress Energy in the third quarter valued at approximately $480,000. Crestwood Advisors Group LLC lifted its holdings in shares of New Fortress Energy by 27.4% in the third quarter. Crestwood Advisors Group LLC now owns 108,031 shares of the company’s stock valued at $982,000 after purchasing an additional 23,225 shares in the last quarter. US Bancorp DE lifted its holdings in shares of New Fortress Energy by 344.6% in the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after purchasing an additional 2,767 shares in the last quarter. Pinnacle Associates Ltd. bought a new position in shares of New Fortress Energy in the third quarter valued at approximately $890,000. Finally, X Square Capital LLC lifted its holdings in shares of New Fortress Energy by 34.5% in the third quarter. X Square Capital LLC now owns 184,746 shares of the company’s stock valued at $1,679,000 after purchasing an additional 47,350 shares in the last quarter. 58.61% of the stock is currently 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.