Deutsche Bank Aktiengesellschaft Cuts New Fortress Energy (NASDAQ:NFE) Price Target to $21.00

New Fortress Energy (NASDAQ:NFE) had its target price cut by Deutsche Bank Aktiengesellschaft from $26.00 to $21.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other research analysts have also recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of New Fortress Energy from $40.00 to $17.00 and set a buy rating for the company in a report on Monday. Barclays reduced their price target on shares of New Fortress Energy from $27.00 to $19.00 and set an equal weight rating on the stock in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $29.00.

New Fortress Energy Price Performance

New Fortress Energy stock traded up $0.15 during midday trading on Monday, reaching $13.65. 381,033 shares of the stock were exchanged, compared to its average volume of 2,053,019. The firm has a market cap of $2.80 billion, a PE ratio of 6.14 and a beta of 1.49. New Fortress Energy has a 52 week low of $12.63 and a 52 week high of $40.04. The company’s fifty day moving average is $20.09 and its 200-day moving average is $26.16. 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 released its earnings results on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.50). New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The business had revenue of $428.00 million for the quarter, compared to the consensus estimate of $465.52 million. During the same period in the prior year, the business posted $0.58 EPS. New Fortress Energy’s revenue for the quarter was down 23.7% on a year-over-year basis. On average, sell-side analysts forecast that New Fortress Energy will post 2.03 EPS for the current year.

New Fortress Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is currently 18.18%.

Hedge Funds Weigh In On New Fortress Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Electron Capital Partners LLC boosted its stake in New Fortress Energy by 9.4% in the fourth quarter. Electron Capital Partners LLC now owns 1,322,340 shares of the company’s stock valued at $49,892,000 after acquiring an additional 113,835 shares in the last quarter. M&G Investment Management Ltd. grew its holdings in shares of New Fortress Energy by 70.3% during the fourth quarter. M&G Investment Management Ltd. now owns 1,537,323 shares of the company’s stock worth $58,418,000 after buying an additional 634,851 shares in the last quarter. Nomura Holdings Inc. purchased a new position in shares of New Fortress Energy during the 4th quarter worth $4,207,000. Capstone Investment Advisors LLC acquired a new stake in New Fortress Energy in the 1st quarter worth about $468,000. Finally, Dimensional Fund Advisors LP increased its position in New Fortress Energy by 21.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,024,178 shares of the company’s stock worth $38,647,000 after purchasing an additional 179,293 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

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.