New Fortress Energy (NASDAQ:NFE) Sets New 1-Year Low at $20.51

New Fortress Energy Inc. (NASDAQ:NFE) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $20.51 and last traded at $20.86, with a volume of 241485 shares changing hands. The stock had previously closed at $20.85.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of New Fortress Energy from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. Barclays decreased their price target on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, May 6th. Finally, Stifel Nicolaus reduced their price objective on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.17.

New Fortress Energy Stock Up 0.6 %

The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 3.74. The firm’s 50 day simple moving average is $24.90 and its 200-day simple moving average is $30.25. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 9.60 and a beta of 1.50.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $690.30 million during the quarter, compared to the consensus estimate of $602.41 million. During the same quarter last year, the firm posted $0.90 EPS. The company’s quarterly revenue was up 19.2% on a year-over-year basis. Equities analysts expect that New Fortress Energy Inc. will post 1.99 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Saturday, June 15th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Friday, June 14th. New Fortress Energy’s payout ratio is 18.18%.

Institutional Trading of New Fortress Energy

Several hedge funds and other institutional investors have recently modified their holdings of NFE. Citigroup Inc. boosted its holdings in New Fortress Energy by 9.7% in the 3rd quarter. Citigroup Inc. now owns 12,341 shares of the company’s stock valued at $405,000 after purchasing an additional 1,092 shares during the period. Rhumbline Advisers raised its position in shares of New Fortress Energy by 4.2% in the 3rd quarter. Rhumbline Advisers now owns 93,781 shares of the company’s stock valued at $3,074,000 after buying an additional 3,778 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of New Fortress Energy by 5.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,730 shares of the company’s stock valued at $221,000 after buying an additional 319 shares in the last quarter. Northeast Financial Consultants Inc acquired a new position in shares of New Fortress Energy in the 3rd quarter valued at approximately $234,000. Finally, Glenmede Trust Co. NA acquired a new position in shares of New Fortress Energy in the 3rd quarter valued at approximately $574,000. 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.