New Fortress Energy (NASDAQ:NFE) Stock Rating Lowered by Morgan Stanley

New Fortress Energy (NASDAQ:NFE) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Thursday, Marketbeat.com reports. They presently have a $15.00 price objective on the stock, down from their prior price objective of $35.00. Morgan Stanley’s target price points to a potential upside of 67.79% from the company’s current price.

Several other analysts have also commented on the company. Stifel Nicolaus dropped their price objective on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating and issued a $7.60 target price (down previously from $21.00) on shares of New Fortress Energy in a research report on Tuesday. Barclays reduced their price target 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. Finally, BTIG Research cut their price objective on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, New Fortress Energy currently has an average rating of “Hold” and a consensus price target of $19.77.

New Fortress Energy Price Performance

NASDAQ:NFE opened at $8.94 on Thursday. 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 company has a 50 day moving average price of $13.02 and a 200-day moving average price of $21.08. New Fortress Energy has a 1-year low of $8.20 and a 1-year high of $40.04. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 4.06 and a beta of 1.52.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data 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). 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 quarter last year, the company posted $0.58 EPS. The company’s revenue was down 23.7% on a year-over-year basis. Equities research analysts forecast that New Fortress Energy will post 0.54 EPS for the current year.

Institutional Investors Weigh In On New Fortress Energy

A number of large investors have recently made changes to their positions in NFE. American National Bank acquired a new position in New Fortress Energy during the second quarter worth $26,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of New Fortress Energy by 563.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock valued at $42,000 after acquiring an additional 1,178 shares during the last quarter. Quarry LP grew its holdings in shares of 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 purchasing an additional 1,253 shares during the period. ORG Partners LLC increased its position in New Fortress Energy by 987.8% during the second quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock worth $77,000 after purchasing an additional 3,408 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in New Fortress Energy during the first quarter worth about $95,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

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.