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

New Fortress Energy Inc. (NASDAQ:NFE) has been given an average recommendation of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat Ratings 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 brokerages that have issued a report on the stock in the last year is $26.67.

A number of equities research analysts have recently issued reports on the company. Barclays dropped their price objective on 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. Stifel Nicolaus cut their price target on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, August 12th. BTIG Research decreased their price objective on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of New Fortress Energy from $26.00 to $21.00 and set a “hold” rating on the stock in a report on Monday, August 12th.

Institutional Investors Weigh In On New Fortress Energy

Several hedge funds have recently bought and sold shares of the stock. Capital World Investors increased its stake in shares of New Fortress Energy by 1.5% during the first quarter. Capital World Investors now owns 15,182,319 shares of the company’s stock worth $464,427,000 after purchasing an additional 217,697 shares during the period. William Blair Investment Management LLC grew its holdings in New Fortress Energy by 7.1% in the 2nd quarter. William Blair Investment Management LLC now owns 9,549,412 shares of the company’s stock valued at $209,896,000 after buying an additional 633,170 shares in the last quarter. Primecap Management Co. CA increased its position in New Fortress Energy by 73.9% during the 2nd quarter. Primecap Management Co. CA now owns 8,026,130 shares of the company’s stock worth $176,414,000 after buying an additional 3,410,630 shares during the period. Encompass Capital Advisors LLC lifted its holdings in shares of New Fortress Energy by 9.0% during the second quarter. Encompass Capital Advisors LLC now owns 4,797,308 shares of the company’s stock worth $105,445,000 after buying an additional 395,740 shares in the last quarter. Finally, HITE Hedge Asset Management LLC boosted its position in shares of New Fortress Energy by 24.1% in the second quarter. HITE Hedge Asset Management LLC now owns 3,192,129 shares of the company’s stock valued at $70,163,000 after acquiring an additional 619,621 shares during the period. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Trading Up 2.1 %

Shares of NASDAQ:NFE opened at $10.91 on Friday. The company’s 50-day moving average price is $16.31 and its two-hundred day moving average price is $23.35. New Fortress Energy has a one year low of $9.44 and a one year high of $40.04. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.72 and a quick ratio of 0.63. The stock has a market capitalization of $2.24 billion, a PE ratio of 4.96 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last released 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). New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The company had revenue of $428.00 million for the quarter, compared to the consensus estimate of $465.52 million. During the same quarter in the previous year, the company posted $0.58 EPS. The business’s revenue was down 23.7% on a year-over-year basis. On average, equities analysts forecast that New Fortress Energy will post 0.58 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, September 13th. New Fortress Energy’s payout ratio is presently 18.18%.

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.