New Fortress Energy Inc. (NASDAQ:NFE – Get Free Report) 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.
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.
Check Out Our Latest Report on NFE
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.
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