Stifel Nicolaus Has Lowered Expectations for New Fortress Energy (NASDAQ:NFE) Stock Price

New Fortress Energy (NASDAQ:NFE) had its price objective lowered by research analysts at Stifel Nicolaus from $23.00 to $19.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 83.75% from the company’s previous close.

NFE has been the subject of a number of other reports. Morgan Stanley decreased their price target on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.60.

New Fortress Energy Stock Up 6.1 %

NASDAQ:NFE opened at $10.34 on Tuesday. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The company’s fifty day moving average price is $13.57 and its 200-day moving average price is $11.59. New Fortress Energy has a 1-year low of $7.82 and a 1-year high of $34.40. The firm has a market capitalization of $2.82 billion, a P/E ratio of 11.36 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.07. The company had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. As a group, equities research analysts anticipate that New Fortress Energy will post 0.36 EPS for the current year.

Hedge Funds Weigh In On New Fortress Energy

A number of large investors have recently added to or reduced their stakes in the stock. KBC Group NV raised its position in shares of New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after purchasing an additional 1,852 shares during the last quarter. US Bancorp DE increased its stake in New Fortress Energy by 344.6% during the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after buying an additional 2,767 shares in the last quarter. Allworth Financial LP raised its holdings in shares of New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after acquiring an additional 1,962 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after acquiring an additional 2,370 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of New Fortress Energy in the fourth quarter worth approximately $64,000. 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.