Brokerages Set New Fortress Energy Inc. (NASDAQ:NFE) Price Target at $19.77

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have earned an average recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $19.77.

Several research firms have issued reports on NFE. Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $35.00 to $15.00 in a research note on Thursday, October 3rd. Barclays dropped their target price on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. BTIG Research lowered their price target 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. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and issued a $7.60 target price (down from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st. Finally, Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, August 12th.

Insider Buying and Selling at New Fortress Energy

In related news, CEO Wesley R. Edens purchased 5,793,742 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were purchased at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the completion of the acquisition, the chief executive officer now owns 35,721,915 shares in the company, valued at approximately $308,280,126.45. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new stake in shares of New Fortress Energy during the third quarter valued at about $25,000. American National Bank acquired a new stake in shares of New Fortress Energy during the 2nd quarter worth approximately $26,000. US Bancorp DE grew its stake in shares of New Fortress Energy by 344.6% during the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after purchasing an additional 2,767 shares during the period. Signaturefd LLC grew its stake in New Fortress Energy by 409.1% in the 3rd quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock valued at $37,000 after acquiring an additional 3,314 shares during the period. Finally, Quarry LP grew its stake in New Fortress Energy by 125.7% in the 2nd 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 period. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Trading Up 3.8 %

NASDAQ:NFE opened at $8.30 on Friday. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.72 and a quick ratio of 0.63. The firm has a 50-day moving average of $9.94 and a 200-day moving average of $17.68. The company has a market cap of $1.70 billion, a PE ratio of 7.03 and a beta of 1.53. New Fortress Energy has a one year low of $7.82 and a one year high of $40.04.

New Fortress Energy (NASDAQ:NFE) last released its earnings results on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). The company had revenue of $428.00 million for the quarter, compared to the consensus estimate of $465.52 million. New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. The firm’s revenue was down 23.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.58 earnings per share. As a group, equities research analysts expect that New Fortress Energy will post 0.52 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend was Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is 33.90%.

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.