New Fortress Energy Inc. (NFE) to Issue Quarterly Dividend of $0.10 on September 27th

New Fortress Energy Inc. (NASDAQ:NFE) declared a quarterly dividend on Friday, August 9th, Zacks reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.10 per share on Friday, September 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Friday, September 13th.

New Fortress Energy has increased its dividend payment by an average of 157.1% annually over the last three years. New Fortress Energy has a dividend payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect New Fortress Energy to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 32.3%.

New Fortress Energy Stock Performance

NASDAQ:NFE opened at $9.75 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38. The company’s 50-day moving average price is $16.89 and its 200-day moving average price is $23.68. New Fortress Energy has a twelve month low of $9.44 and a twelve month high of $40.04. The company has a market cap of $2.00 billion, a P/E ratio of 4.43 and a beta of 1.54.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.50). The firm had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $465.52 million. New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 EPS. On average, sell-side analysts forecast that New Fortress Energy will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NFE shares. Deutsche Bank Aktiengesellschaft reduced their price objective on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Barclays cut 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 issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $29.00.

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.