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

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $38.00.

Several equities analysts have commented on NFE shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of New Fortress Energy from $33.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Barclays lowered their target price on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, May 6th. Finally, Stifel Nicolaus lowered their target price on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, May 9th.

New Fortress Energy Price Performance

NFE stock opened at $19.54 on Tuesday. New Fortress Energy has a 52 week low of $19.02 and a 52 week high of $40.04. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 3.74. The company has a fifty day simple moving average of $22.41 and a two-hundred day simple moving average of $27.69. The firm has a market capitalization of $4.01 billion, a P/E ratio of 8.88 and a beta of 1.49.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The business had revenue of $690.30 million during the quarter, compared to analyst estimates of $602.41 million. During the same quarter last year, the business earned $0.90 earnings per share. New Fortress Energy’s quarterly revenue was up 19.2% compared to the same quarter last year. Analysts anticipate that New Fortress Energy will post 2.03 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Saturday, June 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.05%. The ex-dividend date was Friday, June 14th. New Fortress Energy’s dividend payout ratio is presently 18.18%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NFE. American National Bank purchased a new position in New Fortress Energy in the 2nd quarter worth about $26,000. Benjamin F. Edwards & Company Inc. increased its stake in New Fortress Energy by 563.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock worth $42,000 after buying an additional 1,178 shares during the period. ORG Partners LLC increased its stake in New Fortress Energy by 987.8% in the 2nd quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock worth $77,000 after buying an additional 3,408 shares during the period. Meeder Asset Management Inc. purchased a new position in New Fortress Energy in the 1st quarter worth about $95,000. Finally, Kapitalo Investimentos Ltda purchased a new position in New Fortress Energy in the 4th quarter worth about $119,000. 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.