New Fortress Energy (NASDAQ:NFE) Trading 5.2% Higher

New Fortress Energy Inc. (NASDAQ:NFE) shot up 5.2% on Monday . The company traded as high as $9.98 and last traded at $9.98. 1,727,711 shares were traded during trading, a decline of 23% from the average session volume of 2,250,475 shares. The stock had previously closed at $9.49.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their target price on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a report on Monday, August 12th. Barclays dropped their price objective on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus reduced 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. Finally, BTIG Research dropped their target price on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Three research 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, the company currently has a consensus rating of “Hold” and a consensus price target of $23.40.

New Fortress Energy Price Performance

The stock has a fifty day moving average of $15.22 and a 200-day moving average of $22.29. The company has a quick ratio of 0.63, a current ratio of 0.72 and a debt-to-equity ratio of 4.38. The firm has a market capitalization of $2.00 billion, a P/E ratio of 4.48 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.50). New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. The company had revenue of $428.00 million for the quarter, compared to the consensus estimate of $465.52 million. During the same period last year, the company earned $0.58 earnings per share. New Fortress Energy’s revenue for the quarter was down 23.7% compared to the same quarter last year. Equities analysts predict that New Fortress Energy Inc. will post 0.58 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.10%. New Fortress Energy’s payout ratio is currently 18.18%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. X Square Capital LLC increased its holdings in shares of New Fortress Energy by 0.6% in the second quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock valued at $3,020,000 after purchasing an additional 781 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of New Fortress Energy by 1.5% in the 1st quarter. Maryland State Retirement & Pension System now owns 59,765 shares of the company’s stock valued at $1,828,000 after purchasing an additional 888 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of New Fortress Energy by 4.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock valued at $477,000 after buying an additional 999 shares during the last quarter. Tidal Investments LLC lifted its position in shares of New Fortress Energy by 10.9% in the 1st quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock worth $315,000 after purchasing an additional 1,009 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in New Fortress Energy by 4.9% during the second quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company’s stock valued at $479,000 after acquiring an additional 1,024 shares during the last quarter. Institutional investors and hedge funds 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.