New Fortress Energy (NASDAQ:NFE) Shares Up 5.5%

New Fortress Energy Inc. (NASDAQ:NFEGet Rating)’s share price shot up 5.5% during trading on Tuesday . The company traded as high as $50.05 and last traded at $49.86. 83,827 shares changed hands during trading, a decline of 95% from the average session volume of 1,760,948 shares. The stock had previously closed at $47.27.

Analyst Ratings Changes

A number of brokerages have commented on NFE. Jefferies Financial Group initiated coverage on shares of New Fortress Energy in a research report on Wednesday, October 19th. They set a “buy” rating and a $65.00 price objective for the company. Morgan Stanley increased their price target on shares of New Fortress Energy from $58.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, September 6th. TheStreet upgraded shares of New Fortress Energy from a “c” rating to a “b-” rating in a report on Tuesday, November 8th. Barclays increased their price target on shares of New Fortress Energy from $48.00 to $53.00 and gave the company an “equal weight” rating in a report on Wednesday, November 16th. Finally, BTIG Research downgraded shares of New Fortress Energy from a “buy” rating to a “neutral” rating in a report on Friday, September 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $62.50.

New Fortress Energy Stock Performance

The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 37.97 and a beta of 1.68. The stock’s 50 day moving average is $49.16 and its 200 day moving average is $48.25. The company has a current ratio of 1.83, a quick ratio of 1.72 and a debt-to-equity ratio of 2.20.

New Fortress Energy (NASDAQ:NFEGet Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.58). The business had revenue of $731.93 million during the quarter, compared to analyst estimates of $741.10 million. New Fortress Energy had a net margin of 11.38% and a return on equity of 33.81%. On average, analysts predict that New Fortress Energy Inc. will post 3.86 earnings per share for the current year.

New Fortress Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 20th. Shareholders of record on Wednesday, December 7th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, December 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.79%. New Fortress Energy’s dividend payout ratio is currently 30.08%.

Institutional Investors Weigh In On New Fortress Energy

Several hedge funds have recently modified their holdings of the stock. Capital World Investors boosted its position in shares of New Fortress Energy by 3.5% in the first quarter. Capital World Investors now owns 8,380,111 shares of the company’s stock worth $357,077,000 after acquiring an additional 285,542 shares during the last quarter. Vanguard Group Inc. raised its holdings in New Fortress Energy by 6.6% in the third quarter. Vanguard Group Inc. now owns 4,700,698 shares of the company’s stock valued at $205,468,000 after buying an additional 290,136 shares during the period. Federated Hermes Inc. raised its holdings in New Fortress Energy by 3.8% in the first quarter. Federated Hermes Inc. now owns 4,374,400 shares of the company’s stock valued at $186,393,000 after buying an additional 158,769 shares during the period. FMR LLC raised its holdings in New Fortress Energy by 111.7% in the second quarter. FMR LLC now owns 2,372,779 shares of the company’s stock valued at $93,891,000 after buying an additional 1,251,862 shares during the period. Finally, BlackRock Inc. raised its holdings in New Fortress Energy by 3.5% in the third quarter. BlackRock Inc. now owns 2,149,470 shares of the company’s stock valued at $93,954,000 after buying an additional 72,760 shares during the period. 67.76% of the stock is owned by institutional investors and hedge funds.

About New Fortress Energy

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New Fortress Energy Inc operates as an integrated gas-to-power 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.

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