New Fortress Energy Inc. (NASDAQ:NFE) Receives $39.17 Average Target Price from Analysts

New Fortress Energy Inc. (NASDAQ:NFE) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $39.17.

A number of equities research analysts recently issued reports on NFE shares. Stifel Nicolaus dropped their target price on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Barclays dropped their target price on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on New Fortress Energy from $35.00 to $33.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th.

New Fortress Energy Trading Down 2.1 %

NASDAQ:NFE opened at $19.98 on Friday. New Fortress Energy has a fifty-two week low of $19.77 and a fifty-two week high of $40.04. The company has a debt-to-equity ratio of 3.74, a current ratio of 0.66 and a quick ratio of 0.54. The stock has a market capitalization of $4.10 billion, a PE ratio of 9.08 and a beta of 1.49. The business’s 50-day simple moving average is $24.46 and its 200-day simple moving average is $29.80.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The business had revenue of $690.30 million for the quarter, compared to analysts’ expectations of $602.41 million. During the same quarter in the previous year, the business posted $0.90 EPS. New Fortress Energy’s revenue for the quarter was up 19.2% on a year-over-year basis. Sell-side analysts expect that New Fortress Energy will post 1.99 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Saturday, June 15th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, June 14th. New Fortress Energy’s dividend payout ratio (DPR) is 18.18%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. increased its holdings in shares of New Fortress Energy by 563.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock worth $42,000 after acquiring an additional 1,178 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of New Fortress Energy during the 1st quarter worth approximately $95,000. Kapitalo Investimentos Ltda acquired a new position in shares of New Fortress Energy during the 4th quarter worth approximately $119,000. Wellington Shields & Co. LLC increased its holdings in shares of New Fortress Energy by 34.1% during the 1st quarter. Wellington Shields & Co. LLC now owns 6,066 shares of the company’s stock worth $186,000 after acquiring an additional 1,544 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of New Fortress Energy during the 1st quarter worth approximately $206,000. 58.61% of the stock is 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.