Stifel Nicolaus Cuts New Fortress Energy (NASDAQ:NFE) Price Target to $17.00

New Fortress Energy (NASDAQ:NFE) had its price objective decreased by Stifel Nicolaus from $40.00 to $17.00 in a research report sent to investors on Monday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Barclays lowered 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 report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of New Fortress Energy from $33.00 to $26.00 and set a hold rating on the stock in a report on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $29.00.

New Fortress Energy Trading Up 6.6 %

Shares of NASDAQ:NFE opened at $13.96 on Monday. New Fortress Energy has a 52-week low of $12.63 and a 52-week high of $40.04. The company has a market capitalization of $2.86 billion, a P/E ratio of 6.35 and a beta of 1.49. The company has a 50-day simple moving average of $20.49 and a 200 day simple moving average of $26.34. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.54 and a current ratio of 0.66.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results 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 during the quarter, compared to analyst estimates of $465.52 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The company’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter last year, the business posted $0.58 earnings per share. Sell-side analysts forecast that New Fortress Energy will post 2.03 earnings per share for the current year.

New Fortress Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 2.87%. New Fortress Energy’s dividend payout ratio is presently 18.18%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NFE. American National Bank acquired a new stake in shares of New Fortress Energy during the 2nd quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of New Fortress Energy by 563.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock worth $42,000 after acquiring an additional 1,178 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of New Fortress Energy during the 1st quarter worth approximately $95,000. Kapitalo Investimentos Ltda acquired a new stake in shares of New Fortress Energy during the 4th quarter worth approximately $119,000. Finally, ORG Partners LLC boosted its position in shares of New Fortress Energy by 987.8% during the 2nd quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock worth $77,000 after acquiring an additional 3,408 shares in the last quarter. 58.61% of the stock is owned by institutional investors.

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.