New Fortress Energy (NASDAQ:NFE) Given New $14.00 Price Target at Morgan Stanley

New Fortress Energy (NASDAQ:NFE) had its price target decreased by equities researchers at Morgan Stanley from $15.00 to $14.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 60.16% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a report on Wednesday, December 4th. Stifel Nicolaus increased their price target on shares of New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.20.

New Fortress Energy Trading Down 3.3 %

Shares of New Fortress Energy stock traded down $0.30 during trading on Tuesday, reaching $8.74. The company’s stock had a trading volume of 1,816,367 shares, compared to its average volume of 4,251,744. The firm’s 50-day moving average is $13.75 and its two-hundred day moving average is $11.63. New Fortress Energy has a 52-week low of $7.82 and a 52-week high of $34.40. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 9.50 and a beta of 1.49. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.07. The firm had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. On average, sell-side analysts anticipate that New Fortress Energy will post 0.36 earnings per share for the current year.

Institutional Trading of New Fortress Energy

A number of hedge funds have recently modified their holdings of the business. KBC Group NV boosted its position in shares of New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after purchasing an additional 1,852 shares in the last quarter. US Bancorp DE boosted its position in shares of New Fortress Energy by 344.6% during the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after buying an additional 2,767 shares during the last quarter. Allworth Financial LP grew its stake in shares of New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after acquiring an additional 1,962 shares during the period. GAMMA Investing LLC grew its position in New Fortress Energy by 148.5% in the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after purchasing an additional 2,370 shares during the period. Finally, Quarry LP bought a new stake in shares of New Fortress Energy in the fourth quarter worth $64,000. 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.