New Fortress Energy (NASDAQ:NFE) Sets New 1-Year Low at $9.39

New Fortress Energy Inc. (NASDAQ:NFE)’s share price hit a new 52-week low on Friday . The company traded as low as $9.39 and last traded at $9.47, with a volume of 3177928 shares traded. The stock had previously closed at $10.60.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NFE shares. Stifel Nicolaus lowered 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 research note on Monday, August 12th. BTIG Research lowered their price target on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. 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 report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, New Fortress Energy currently has a consensus rating of “Hold” and an average price target of $23.40.

New Fortress Energy Price Performance

The stock’s 50 day moving average is $15.45 and its two-hundred day moving average is $22.60. The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.63 and a current ratio of 0.72. The stock has a market capitalization of $1.95 billion, a PE ratio of 4.55 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $465.52 million. During the same period in the prior year, the firm earned $0.58 earnings per share. The business’s revenue was down 23.7% on a year-over-year basis. On average, equities analysts anticipate that New Fortress Energy Inc. will post 0.58 EPS for the current fiscal year.

New Fortress Energy Dividend Announcement

The firm also recently announced 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 4.21%. The ex-dividend date is Friday, September 13th. New Fortress Energy’s payout ratio is 18.18%.

Institutional Trading of New Fortress Energy

A number of hedge funds have recently bought and sold shares of NFE. American National Bank acquired a new stake in shares of New Fortress Energy in the 2nd quarter worth $26,000. Benjamin F. Edwards & Company Inc. raised its stake in New Fortress Energy by 563.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock worth $42,000 after purchasing an additional 1,178 shares during the period. Quarry LP raised its stake in New Fortress Energy by 125.7% during the second quarter. Quarry LP now owns 2,250 shares of the company’s stock worth $49,000 after purchasing an additional 1,253 shares during the period. ORG Partners LLC boosted its holdings in New Fortress Energy by 987.8% in the 2nd quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock valued at $77,000 after purchasing an additional 3,408 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of New Fortress Energy in the 1st quarter valued at approximately $95,000. Institutional investors and hedge funds 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.