New Fortress Energy (NASDAQ:NFE) Sets New 12-Month Low at $10.57

New Fortress Energy Inc. (NASDAQ:NFE) shares hit a new 52-week low during trading on Monday . The stock traded as low as $10.57 and last traded at $10.59, with a volume of 235789 shares traded. The stock had previously closed at $11.06.

Wall Street Analyst Weigh In

A number of analysts recently commented on NFE shares. Stifel Nicolaus decreased their target price on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft decreased their target price on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Finally, Barclays decreased their price objective on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $29.00.

New Fortress Energy Price Performance

The firm has a market capitalization of $2.14 billion, a P/E ratio of 4.70 and a beta of 1.54. The firm’s 50 day simple moving average is $17.10 and its two-hundred day simple moving average is $23.89. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.72 and a quick ratio of 0.63.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). The company had revenue of $428.00 million during the quarter, compared to the consensus estimate of $465.52 million. New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. New Fortress Energy’s quarterly revenue was down 23.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 earnings per share. As a group, analysts predict that New Fortress Energy Inc. will post 0.5 earnings per share for the current year.

New Fortress Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 3.83%. New Fortress Energy’s payout ratio is 18.18%.

Hedge Funds Weigh In On New Fortress Energy

Several institutional investors have recently bought and sold shares of NFE. X Square Capital LLC lifted its holdings in New Fortress Energy by 0.6% during the 2nd quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock valued at $3,020,000 after buying an additional 781 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of New Fortress Energy by 1.5% in the 1st quarter. Maryland State Retirement & Pension System now owns 59,765 shares of the company’s stock valued at $1,828,000 after acquiring an additional 888 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of New Fortress Energy by 4.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock valued at $477,000 after acquiring an additional 999 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of New Fortress Energy by 10.9% in the 1st quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock valued at $315,000 after acquiring an additional 1,009 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of New Fortress Energy by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company’s stock valued at $479,000 after purchasing an additional 1,024 shares during the period. 58.61% of the stock is owned by hedge funds and other institutional investors.

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.