New Fortress Energy (NASDAQ:NFE) Shares Gap Up to $9.09

Shares of New Fortress Energy Inc. (NASDAQ:NFE) gapped up before the market opened on Tuesday . The stock had previously closed at $9.09, but opened at $9.31. New Fortress Energy shares last traded at $10.49, with a volume of 3,664,302 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NFE shares. Barclays dropped 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 reiterated a “sell” rating and issued a $7.60 price target (down from $21.00) on shares of New Fortress Energy in a research report on Tuesday. Stifel Nicolaus reduced their price objective 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, BTIG Research dropped 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 report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.72.

New Fortress Energy Trading Up 17.7 %

The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 4.88 and a beta of 1.53. The company has a fifty day simple moving average of $13.50 and a 200-day simple moving average of $21.32.

New Fortress Energy (NASDAQ:NFE) last released its quarterly 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). New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. The firm had revenue of $428.00 million for the quarter, compared to analyst estimates of $465.52 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The firm’s revenue was down 23.7% compared to the same quarter last year. On average, research analysts forecast that New Fortress Energy Inc. will post 0.54 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 3.74%. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors have recently bought and sold shares of the business. Capital World Investors lifted its position in New Fortress Energy by 8.3% in the 4th quarter. Capital World Investors now owns 14,964,622 shares of the company’s stock worth $564,615,000 after buying an additional 1,152,125 shares in the last quarter. American Assets Investment Management LLC acquired a new stake in New Fortress Energy during the fourth quarter valued at $596,000. Nomura Holdings Inc. acquired a new stake in New Fortress Energy during the fourth quarter valued at $4,207,000. Tortoise Index Solutions LLC grew its stake in New Fortress Energy by 5.1% in the fourth quarter. Tortoise Index Solutions LLC now owns 129,453 shares of the company’s stock valued at $4,884,000 after purchasing an additional 6,256 shares in the last quarter. Finally, Pinnacle Holdings LLC increased its position in New Fortress Energy by 37.1% in the 4th quarter. Pinnacle Holdings LLC now owns 55,100 shares of the company’s stock worth $2,079,000 after purchasing an additional 14,900 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

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.