New Fortress Energy (NASDAQ:NFE) PT Lowered to $15.00 at BTIG Research

New Fortress Energy (NASDAQ:NFE) had its target price reduced by BTIG Research from $35.00 to $15.00 in a research note released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

NFE has been the topic of several other reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of New Fortress Energy from $26.00 to $21.00 and set a hold rating on the stock in a research note on Monday, August 12th. Stifel Nicolaus dropped their target price on shares of New Fortress Energy from $40.00 to $17.00 and set a buy rating on the stock in a report on Monday, August 12th. Finally, Barclays lowered their price target on New Fortress Energy from $27.00 to $19.00 and set an equal weight rating on the stock in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $23.40.

New Fortress Energy Trading Up 7.9 %

Shares of NASDAQ:NFE opened at $11.77 on Friday. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 5.35 and a beta of 1.53. The company has a quick ratio of 0.63, a current ratio of 0.72 and a debt-to-equity ratio of 4.38. New Fortress Energy has a 12 month low of $9.44 and a 12 month high of $40.04. The company’s fifty day simple moving average is $16.14 and its 200 day simple moving average is $23.09.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm 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 business posted $0.58 earnings per share. The firm’s quarterly revenue was down 23.7% compared to the same quarter last year. As a group, research analysts forecast that New Fortress Energy will post 0.58 EPS for the current fiscal year.

New Fortress Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, September 13th. New Fortress Energy’s dividend payout ratio is presently 18.18%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA boosted its stake in shares of New Fortress Energy by 73.9% in the second quarter. Primecap Management Co. CA now owns 8,026,130 shares of the company’s stock valued at $176,414,000 after buying an additional 3,410,630 shares during the period. William Blair Investment Management LLC raised its holdings in New Fortress Energy by 31.0% in the 1st quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock valued at $272,748,000 after acquiring an additional 2,111,360 shares in the last quarter. M&G Plc bought a new stake in shares of New Fortress Energy during the 1st quarter valued at $51,569,000. Capital World Investors grew its holdings in shares of New Fortress Energy by 8.3% during the 4th quarter. Capital World Investors now owns 14,964,622 shares of the company’s stock worth $564,615,000 after purchasing an additional 1,152,125 shares in the last quarter. Finally, Kailix Advisors LLC increased its position in shares of New Fortress Energy by 83.6% in the first quarter. Kailix Advisors LLC now owns 1,969,453 shares of the company’s stock worth $60,246,000 after purchasing an additional 896,671 shares during the period. Institutional investors own 58.61% of the company’s stock.

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.