New Fortress Energy Inc. (NASDAQ:NFE) Receives $26.67 Average Target Price from Brokerages

New Fortress Energy Inc. (NASDAQ:NFE) has earned a consensus recommendation of “Hold” from the five brokerages that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $23.40.

NFE has been the subject of a number of analyst reports. Stifel Nicolaus lowered their price objective on 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. Barclays decreased their price objective on 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. Deutsche Bank Aktiengesellschaft decreased their target price 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. Finally, 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 note on Friday.

New Fortress Energy Stock Performance

Shares of New Fortress Energy stock opened at $11.77 on Friday. The stock’s 50-day moving average is $16.14 and its 200-day moving average is $23.09. New Fortress Energy has a one year low of $9.44 and a one year high of $40.04. 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 $2.41 billion, a price-to-earnings ratio of 5.35 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $428.00 million for the quarter, compared to analyst estimates of $465.52 million. During the same quarter last year, the business earned $0.58 earnings per share. The company’s revenue was down 23.7% on a year-over-year basis. Equities analysts predict that New Fortress Energy will post 0.58 earnings per share for the current fiscal 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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Friday, September 13th. New Fortress Energy’s payout ratio is presently 18.18%.

Institutional Investors Weigh In On New Fortress Energy

Hedge funds have recently made changes to their positions in the company. X Square Capital LLC lifted its holdings in shares of New Fortress Energy by 0.6% during the second quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock worth $3,020,000 after purchasing an additional 781 shares during the period. Maryland State Retirement & Pension System increased its stake in New Fortress Energy by 1.5% during the first quarter. Maryland State Retirement & Pension System now owns 59,765 shares of the company’s stock worth $1,828,000 after purchasing an additional 888 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of New Fortress Energy by 4.8% in the second quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock valued at $477,000 after acquiring an additional 999 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of New Fortress Energy by 10.9% in the 1st quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock valued at $315,000 after purchasing an additional 1,009 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in New Fortress Energy by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company’s stock worth $479,000 after acquiring an additional 1,024 shares in the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

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.