New Fortress Energy (NASDAQ:NFE) Price Target Cut to $26.00 by Analysts at Deutsche Bank Aktiengesellschaft

New Fortress Energy (NASDAQ:NFE) had its target price lowered by Deutsche Bank Aktiengesellschaft from $33.00 to $26.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Barclays reduced their price target on shares of New Fortress Energy from $32.00 to $27.00 and set an equal weight rating for the company in a research report on Monday, May 6th. Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $45.00 to $43.00 and set a buy rating for the company in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, New Fortress Energy currently has a consensus rating of Moderate Buy and an average price target of $38.00.

New Fortress Energy Stock Performance

NASDAQ NFE opened at $20.17 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 3.74. New Fortress Energy has a 52-week low of $19.02 and a 52-week high of $40.04. The business’s 50-day moving average price is $22.57 and its 200 day moving average price is $27.93. The firm has a market cap of $4.14 billion, a P/E ratio of 9.17 and a beta of 1.49.

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

New Fortress Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Saturday, June 15th were paid a $0.10 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.98%. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors have recently modified their holdings of NFE. Vanguard Group Inc. grew its position in New Fortress Energy by 41.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock worth $278,035,000 after purchasing an additional 2,482,627 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in New Fortress Energy in the 4th quarter worth about $210,000. Alpine Woods Capital Investors LLC grew its position in New Fortress Energy by 42.9% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the company’s stock worth $755,000 after purchasing an additional 6,000 shares during the last quarter. Friedenthal Financial bought a new position in New Fortress Energy in the 4th quarter worth about $690,000. Finally, Mackenzie Financial Corp bought a new position in New Fortress Energy in the 4th quarter worth about $3,021,000. Institutional investors own 58.61% of the company’s stock.

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.