New Fortress Energy (NASDAQ:NFE) Earns “Sell” Rating from Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reissued their sell rating on shares of New Fortress Energy (NASDAQ:NFE) in a report published on Tuesday, Marketbeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has a $7.60 price target on the stock, down from their prior price target of $21.00.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus reduced 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 research report on Monday, August 12th. BTIG Research cut their target price on shares of New Fortress Energy from $35.00 to $15.00 and set a buy rating for the company in a research note on Friday, September 13th. Finally, Barclays decreased 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 research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $19.77.

New Fortress Energy Stock Performance

NFE opened at $9.03 on Tuesday. The firm has a fifty day moving average price of $12.80 and a 200 day moving average price of $20.99. New Fortress Energy has a 1 year low of $8.20 and a 1 year high of $40.04. The stock has a market cap of $1.85 billion, a P/E ratio of 4.10 and a beta of 1.52. 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 issued its quarterly earnings data on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The firm had revenue of $428.00 million during the quarter, compared to analyst estimates of $465.52 million. During the same quarter last year, the company posted $0.58 EPS. The company’s revenue was down 23.7% on a year-over-year basis. Equities research analysts anticipate that New Fortress Energy will post 0.54 earnings per share for the current year.

New Fortress Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Friday, September 13th. New Fortress Energy’s dividend payout ratio is currently 18.18%.

Insider Buying and Selling

In related news, CEO Wesley R. Edens purchased 5,793,742 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was acquired at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the completion of the transaction, the chief executive officer now directly owns 35,721,915 shares of the company’s stock, valued at $308,280,126.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 37.10% of the stock is currently owned by company insiders.

Institutional Trading of New Fortress Energy

Hedge funds have recently made changes to their positions in the company. X Square Capital LLC grew its holdings in shares of New Fortress Energy by 0.6% during the 2nd quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock worth $3,020,000 after purchasing an additional 781 shares during the period. Maryland State Retirement & Pension System boosted its stake in New Fortress Energy by 1.5% during the first quarter. Maryland State Retirement & Pension System now owns 59,765 shares of the company’s stock worth $1,828,000 after buying an additional 888 shares during the period. Commonwealth Equity Services LLC boosted its stake in New Fortress Energy by 4.8% during the second quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock worth $477,000 after buying an additional 999 shares during the period. Tidal Investments LLC increased its position in shares of New Fortress Energy by 10.9% during the first 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 raised 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 acquiring an additional 1,024 shares during the period. 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.