New Fortress Energy (NASDAQ:NFE) Sets New 1-Year Low at $19.01

New Fortress Energy Inc. (NASDAQ:NFE) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $19.01 and last traded at $19.21, with a volume of 953826 shares changing hands. The stock had previously closed at $19.74.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Barclays cut their price objective on 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. Deutsche Bank Aktiengesellschaft reduced their price objective on New Fortress Energy from $33.00 to $26.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, Stifel Nicolaus decreased their price objective on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

New Fortress Energy Price Performance

The firm has a market capitalization of $3.84 billion, a P/E ratio of 8.69 and a beta of 1.49. The stock’s 50 day simple moving average is $22.12 and its 200 day simple moving average is $27.52. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.54 and a current ratio of 0.66.

New Fortress Energy (NASDAQ:NFE) last posted its 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 business had revenue of $690.30 million for the quarter, compared to the consensus estimate of $602.41 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 EPS. As a group, analysts expect that New Fortress Energy Inc. will post 2.03 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Saturday, June 15th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.40 annualized dividend and a yield of 2.14%. New Fortress Energy’s dividend payout ratio (DPR) is 18.18%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NFE. Versor Investments LP purchased a new stake in shares of New Fortress Energy during the second quarter worth about $268,000. Commonwealth Equity Services LLC grew its position in New Fortress Energy by 4.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock worth $477,000 after purchasing an additional 999 shares during the last quarter. Bank of New York Mellon Corp increased its stake in New Fortress Energy by 10.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 468,056 shares of the company’s stock valued at $10,288,000 after purchasing an additional 45,924 shares in the last quarter. American National Bank purchased a new position in shares of New Fortress Energy in the second quarter worth $26,000. Finally, ORG Partners LLC lifted its stake in shares of New Fortress Energy by 987.8% during the second quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock worth $77,000 after buying an additional 3,408 shares during the period. 58.61% of the stock is owned by institutional investors and hedge funds.

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.