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

New Fortress Energy Inc. (NASDAQ:NFE) has earned a consensus recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $19.77.

A number of research analysts have weighed in on NFE shares. Deutsche Bank Aktiengesellschaft restated a “sell” rating and issued a $7.60 price target (down from $21.00) on shares of New Fortress Energy in a research note on Tuesday, October 1st. BTIG Research decreased 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 note on Friday, September 13th. Barclays dropped their price target on shares of 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. Morgan Stanley downgraded shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $35.00 to $15.00 in a research report on Thursday, October 3rd. Finally, Stifel Nicolaus lowered their price objective 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.

New Fortress Energy Stock Up 3.0 %

Shares of NFE stock opened at $9.30 on Tuesday. New Fortress Energy has a 12-month low of $8.20 and a 12-month high of $40.04. 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 fifty day moving average of $11.78 and a 200-day moving average of $20.27. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 4.23 and a beta of 1.51.

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 analysts’ consensus estimates of $0.09 by ($0.50). The firm had revenue of $428.00 million for the quarter, compared to the consensus estimate of $465.52 million. New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The firm’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 earnings per share. As a group, equities research analysts predict that New Fortress Energy will post 0.54 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.10 per share. The ex-dividend date was Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 4.30%. New Fortress Energy’s dividend payout ratio is currently 18.18%.

Insider Activity

In other New Fortress Energy news, CEO Wesley R. Edens bought 5,793,742 shares of New Fortress Energy stock in a transaction on Tuesday, October 1st. The shares were purchased at an average cost of $8.63 per share, with a total value of $49,999,993.46. Following the acquisition, the chief executive officer now directly owns 35,721,915 shares of the company’s stock, valued at $308,280,126.45. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 37.10% of the company’s stock.

Institutional Trading of New Fortress Energy

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