New Fortress Energy (NASDAQ:NFE) Sees Unusually-High Trading Volume

New Fortress Energy Inc. (NASDAQ:NFE) shares saw an uptick in trading volume on Wednesday . 7,973,498 shares were traded during mid-day trading, an increase of 219% from the previous session’s volume of 2,497,892 shares.The stock last traded at $8.93 and had previously closed at $9.68.

Analysts Set New Price Targets

Several brokerages recently issued reports on NFE. Stifel Nicolaus dropped their price target on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. BTIG Research dropped their target price 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. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating and set a $7.60 target price (down previously from $21.00) on shares of New Fortress Energy in a research report on Tuesday. Finally, Barclays dropped their target price 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.72.

New Fortress Energy Trading Down 7.6 %

The stock has a market cap of $1.83 billion, a PE ratio of 4.12 and a beta of 1.52. The business has a 50 day moving average of $13.26 and a 200-day moving average of $21.16. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38.

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 the consensus estimate 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 business had revenue of $428.00 million for the quarter, compared to analyst estimates of $465.52 million. During the same quarter last year, the business earned $0.58 EPS. New Fortress Energy’s revenue for the quarter was down 23.7% compared to the same quarter last year. On average, analysts anticipate that New Fortress Energy Inc. will post 0.54 EPS for the current year.

New Fortress Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.47%. The ex-dividend date was Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is 18.18%.

Institutional Investors Weigh In On New Fortress Energy

Hedge funds have recently made changes to their positions in the business. Quarry LP boosted its holdings in New Fortress Energy by 125.7% in the second quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after acquiring an additional 1,253 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in New Fortress Energy by 3.9% in the second quarter. Duff & Phelps Investment Management Co. now owns 329,891 shares of the company’s stock valued at $7,251,000 after acquiring an additional 12,500 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in New Fortress Energy in the second quarter valued at $1,121,000. Scientech Research LLC acquired a new position in New Fortress Energy in the second quarter valued at $1,265,000. Finally, Mackenzie Financial Corp boosted its holdings in New Fortress Energy by 25.4% in the second quarter. Mackenzie Financial Corp now owns 15,209 shares of the company’s stock valued at $334,000 after acquiring an additional 3,081 shares during the last quarter. 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.