New Fortress Energy Inc. (NASDAQ:NFE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of New Fortress Energy Inc. (NASDAQ:NFEGet Rating) have earned an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $62.50.

Several analysts have recently commented on NFE shares. Evercore ISI raised their target price on New Fortress Energy to $74.00 in a research note on Tuesday, November 15th. Barclays raised their target price on New Fortress Energy from $48.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 16th. Jefferies Financial Group started coverage on New Fortress Energy in a research note on Wednesday, October 19th. They issued a “buy” rating and a $65.00 target price for the company. Finally, TheStreet downgraded New Fortress Energy from a “b-” rating to a “c+” rating in a research note on Wednesday, November 23rd.

Insiders Place Their Bets

In other New Fortress Energy news, major shareholder Energy Transition Holdings Llc sold 6,900,000 shares of New Fortress Energy stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $45.56, for a total transaction of $314,364,000.00. Following the transaction, the insider now owns 25,559,846 shares of the company’s stock, valued at approximately $1,164,506,583.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Energy Transition Holdings Llc sold 6,900,000 shares of New Fortress Energy stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $45.56, for a total value of $314,364,000.00. Following the sale, the insider now owns 25,559,846 shares of the company’s stock, valued at approximately $1,164,506,583.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katherine Wanner purchased 3,370 shares of the stock in a transaction that occurred on Thursday, December 22nd. The stock was bought at an average cost of $41.79 per share, for a total transaction of $140,832.30. Following the acquisition, the director now directly owns 82,599 shares in the company, valued at approximately $3,451,812.21. The disclosure for this purchase can be found here. Insiders own 37.70% of the company’s stock.

Institutional Investors Weigh In On New Fortress Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in shares of New Fortress Energy by 111.7% during the 2nd quarter. FMR LLC now owns 2,372,779 shares of the company’s stock valued at $93,891,000 after purchasing an additional 1,251,862 shares in the last quarter. PointState Capital LP grew its position in shares of New Fortress Energy by 153.9% during the 1st quarter. PointState Capital LP now owns 1,195,643 shares of the company’s stock valued at $50,946,000 after purchasing an additional 724,709 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of New Fortress Energy during the 3rd quarter valued at $28,342,000. Invesco Ltd. grew its position in shares of New Fortress Energy by 579.3% during the 1st quarter. Invesco Ltd. now owns 522,106 shares of the company’s stock valued at $22,246,000 after purchasing an additional 445,250 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of New Fortress Energy by 243.1% during the 1st quarter. First Trust Advisors LP now owns 423,619 shares of the company’s stock valued at $18,050,000 after purchasing an additional 300,159 shares in the last quarter. Institutional investors own 50.16% of the company’s stock.

New Fortress Energy Stock Performance

NFE stock opened at $36.93 on Friday. The stock has a 50-day moving average price of $43.37 and a 200-day moving average price of $48.21. New Fortress Energy has a 1-year low of $19.41 and a 1-year high of $63.06. The company has a current ratio of 1.83, a quick ratio of 1.72 and a debt-to-equity ratio of 2.20. The firm has a market cap of $7.71 billion, a PE ratio of 27.77 and a beta of 1.66.

New Fortress Energy (NASDAQ:NFEGet Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.58). New Fortress Energy had a return on equity of 33.81% and a net margin of 11.38%. The business had revenue of $731.93 million during the quarter, compared to the consensus estimate of $741.10 million. As a group, equities research analysts expect that New Fortress Energy will post 3.21 earnings per share for the current year.

New Fortress Energy Increases Dividend

The business also recently declared a Special dividend, which was paid on Friday, January 13th. Shareholders of record on Wednesday, January 4th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, January 3rd. This represents a yield of 24.55%. This is an increase from New Fortress Energy’s previous Special dividend of $0.10. New Fortress Energy’s payout ratio is 902.26%.

About New Fortress Energy

(Get Rating)

New Fortress Energy, Inc is a holding company engaged in the management of integrated gas-to-power energy infrastructure. It funds, builds, and operates natural gas infrastructure and logistics to deliver energy solutions. The company was founded by Wesley Robert Edens on February 25, 2014 and is headquartered in New York, NY.

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Analyst Recommendations for New Fortress Energy (NASDAQ:NFE)

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