New Fortress Energy (NASDAQ:NFE) Sets New 52-Week Low at $19.96

New Fortress Energy Inc. (NASDAQ:NFE) reached a new 52-week low on Tuesday . The company traded as low as $19.96 and last traded at $20.08, with a volume of 727882 shares traded. The stock had previously closed at $20.40.

Analysts Set New Price Targets

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

New Fortress Energy Stock Up 1.9 %

The company has a debt-to-equity ratio of 3.74, a current ratio of 0.66 and a quick ratio of 0.54. The company has a market capitalization of $4.18 billion, a PE ratio of 9.25 and a beta of 1.49. The business has a 50-day moving average of $24.32 and a 200 day moving average of $29.73.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The company had revenue of $690.30 million for the quarter, compared to the consensus estimate of $602.41 million. During the same period in the previous year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. Equities research analysts predict that New Fortress Energy Inc. will post 1.99 earnings per share for the current year.

New Fortress Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Saturday, June 15th were given a dividend of $0.10 per share. The ex-dividend date was Friday, June 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.96%. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.

Institutional Investors Weigh In On New Fortress Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Electron Capital Partners LLC raised its position in New Fortress Energy by 9.4% during the fourth quarter. Electron Capital Partners LLC now owns 1,322,340 shares of the company’s stock valued at $49,892,000 after purchasing an additional 113,835 shares during the period. M&G Investment Management Ltd. raised its position in New Fortress Energy by 70.3% during the fourth quarter. M&G Investment Management Ltd. now owns 1,537,323 shares of the company’s stock valued at $58,418,000 after purchasing an additional 634,851 shares during the period. Nomura Holdings Inc. purchased a new stake in New Fortress Energy during the fourth quarter valued at approximately $4,207,000. Dimensional Fund Advisors LP raised its position in New Fortress Energy by 21.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,024,178 shares of the company’s stock valued at $38,647,000 after purchasing an additional 179,293 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in shares of New Fortress Energy in the fourth quarter worth approximately $3,021,000. 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.