New Fortress Energy Inc. (NASDAQ:NFE) Receives Consensus Recommendation of “Hold” from Analysts

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have earned an average recommendation of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $19.77.

NFE has been the topic of several research reports. Stifel Nicolaus lowered their target price on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. BTIG Research lowered their price target on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $35.00 to $15.00 in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating and issued a $7.60 target price (down from $21.00) on shares of New Fortress Energy in a research note on Tuesday, October 1st. Finally, Barclays lowered their price target on 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.

Insider Buying and Selling at New Fortress Energy

In related news, CEO Wesley R. Edens acquired 5,793,742 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were bought at an average price 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 in the company, valued at approximately $308,280,126.45. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors have recently bought and sold shares of the business. Primecap Management Co. CA increased its position in New Fortress Energy by 73.9% in the second quarter. Primecap Management Co. CA now owns 8,026,130 shares of the company’s stock worth $176,414,000 after purchasing an additional 3,410,630 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of New Fortress Energy by 31.0% during the first quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock valued at $272,748,000 after buying an additional 2,111,360 shares during the period. M&G Plc bought a new stake in shares of New Fortress Energy in the first quarter valued at about $51,569,000. Kailix Advisors LLC lifted its stake in New Fortress Energy by 83.6% in the first quarter. Kailix Advisors LLC now owns 1,969,453 shares of the company’s stock worth $60,246,000 after acquiring an additional 896,671 shares during the period. Finally, HITE Hedge Asset Management LLC lifted its position in shares of New Fortress Energy by 24.1% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 3,192,129 shares of the company’s stock worth $70,163,000 after purchasing an additional 619,621 shares during the period. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Trading Up 0.6 %

NASDAQ:NFE opened at $9.36 on Tuesday. New Fortress Energy has a 12 month low of $8.20 and a 12 month high of $40.04. 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 stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 7.93 and a beta of 1.51. The firm has a fifty day simple moving average of $11.62 and a two-hundred day simple moving average of $20.06.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). The company had revenue of $428.00 million for 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%. The business’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 earnings per share. Analysts expect that New Fortress Energy will post 0.41 EPS for the current fiscal year.

New Fortress Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, September 13th. New Fortress Energy’s dividend payout ratio is presently 33.90%.

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.