New Fortress Energy Inc. Announces Quarterly Dividend of $0.10 (NASDAQ:NFE)

New Fortress Energy Inc. (NASDAQ:NFE) announced a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Shareholders of record on Saturday, June 15th will be paid a dividend of 0.10 per share on Thursday, June 27th. This represents a $0.40 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, June 14th.

New Fortress Energy has raised its dividend by an average of 157.1% per year over the last three years. New Fortress Energy has a dividend payout ratio of 9.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect New Fortress Energy to earn $4.04 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 9.9%.

New Fortress Energy Stock Performance

Shares of NFE stock opened at $27.48 on Friday. The stock has a market cap of $5.63 billion, a P/E ratio of 10.37 and a beta of 1.56. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.57 and a quick ratio of 0.51. The company has a fifty day moving average price of $29.46 and a two-hundred day moving average price of $32.78. New Fortress Energy has a one year low of $25.06 and a one year high of $40.04.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The firm had revenue of $690.30 million during the quarter, compared to analysts’ expectations of $602.41 million. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. As a group, equities analysts predict that New Fortress Energy will post 2.97 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NFE shares. Barclays dropped their price objective on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday. Stifel Nicolaus dropped their price objective on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of New Fortress Energy from $35.00 to $33.00 and set a “hold” rating on the stock in a research report on Thursday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $38.00.

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.