New Fortress Energy Inc. (NASDAQ:NFE) Given Consensus Recommendation of “Hold” by Brokerages

New Fortress Energy Inc. (NASDAQ:NFE) has received an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $39.29.

NFE has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their target price on shares of New Fortress Energy from $49.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $35.00 target price (down from $40.00) on shares of New Fortress Energy in a research note on Monday, March 4th.

New Fortress Energy Stock Performance

Shares of NFE opened at $28.20 on Friday. The company’s fifty day moving average is $31.10 and its 200-day moving average is $33.34. New Fortress Energy has a 12 month low of $25.06 and a 12 month high of $40.04. The firm has a market cap of $5.78 billion, a price-to-earnings ratio of 10.64 and a beta of 1.53. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 3.66.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Thursday, February 29th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The business had revenue of $758.60 million for the quarter, compared to analyst estimates of $647.54 million. During the same period last year, the business posted $0.87 EPS. New Fortress Energy’s revenue was up 38.8% compared to the same quarter last year. Equities analysts expect that New Fortress Energy will post 3.73 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Thursday, March 14th. New Fortress Energy’s dividend payout ratio (DPR) is presently 15.09%.

Institutional Trading of New Fortress Energy

Hedge funds have recently bought and sold shares of the stock. Harbour Investments Inc. boosted its holdings in New Fortress Energy by 1,218.3% in the 2nd quarter. Harbour Investments Inc. now owns 936 shares of the company’s stock valued at $25,000 after purchasing an additional 865 shares during the period. American International Group Inc. lifted its holdings in shares of New Fortress Energy by 49.5% during the 2nd quarter. American International Group Inc. now owns 752 shares of the company’s stock worth $30,000 after acquiring an additional 249 shares during the period. Money Concepts Capital Corp bought a new position in shares of New Fortress Energy during the 4th quarter worth about $38,000. KBC Group NV bought a new position in shares of New Fortress Energy during the 4th quarter worth about $39,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of New Fortress Energy by 41.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,084 shares of the company’s stock worth $46,000 after acquiring an additional 316 shares during the period. 58.61% of the stock is owned by institutional investors.

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.