Stifel Nicolaus Cuts New Fortress Energy (NASDAQ:NFE) Price Target to $19.00

New Fortress Energy (NASDAQ:NFE) had its target price cut by Stifel Nicolaus from $23.00 to $19.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also commented on NFE. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price on the stock in a research report on Wednesday, December 4th. Morgan Stanley lowered their price objective on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.60.

New Fortress Energy Stock Down 6.3 %

NASDAQ NFE opened at $9.69 on Tuesday. 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 has a 52 week low of $7.82 and a 52 week high of $34.40. The company has a market capitalization of $2.64 billion, a P/E ratio of 10.65 and a beta of 1.58. The stock’s 50-day moving average price is $13.48 and its 200-day moving average price is $11.58.

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 return on equity of 15.60% and a net margin of 7.84%. On average, equities research analysts predict that New Fortress Energy will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On New Fortress Energy

Several institutional investors have recently made changes to their positions in the stock. Capital World Investors raised its position in New Fortress Energy by 87.9% during the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock worth $301,266,000 after acquiring an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of New Fortress Energy by 40.8% during the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after buying an additional 4,509,177 shares during the period. Primecap Management Co. CA raised its holdings in New Fortress Energy by 13.6% in the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock valued at $198,027,000 after acquiring an additional 1,564,893 shares during the last quarter. Vanguard Group Inc. lifted its position in New Fortress Energy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock worth $171,147,000 after buying an additional 2,728,191 shares during the period. Finally, Hood River Capital Management LLC acquired a new stake in shares of New Fortress Energy in the fourth quarter worth approximately $155,023,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

About New Fortress Energy

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.