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

New Fortress Energy Inc. (NASDAQ:NFE) has been assigned an average rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $26.67.

NFE has been the topic of a number of analyst reports. Stifel Nicolaus cut their price target on 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. Barclays cut 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 note on Monday, August 5th. BTIG Research decreased their target price on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of New Fortress Energy from $26.00 to $21.00 and set a “hold” rating on the stock in a research report on Monday, August 12th.

New Fortress Energy Price Performance

New Fortress Energy stock opened at $10.91 on Friday. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 4.96 and a beta of 1.53. New Fortress Energy has a 12-month low of $9.44 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 business’s 50-day simple moving average is $16.31 and its 200 day simple moving average is $23.35.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.41) 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 in the prior year, the firm earned $0.58 EPS. The firm’s quarterly revenue was down 23.7% compared to the same quarter last year. As a group, research analysts anticipate that New Fortress Energy will post 0.58 earnings per share for the current year.

New Fortress Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NFE. X Square Capital LLC raised its holdings in shares of New Fortress Energy by 0.6% during the second quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock worth $3,020,000 after acquiring an additional 781 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of 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 valued at $1,828,000 after purchasing an additional 888 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of New Fortress Energy by 4.8% during the second quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock worth $477,000 after buying an additional 999 shares during the period. Tidal Investments LLC grew 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 worth $315,000 after buying an additional 1,009 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in New Fortress Energy by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company’s stock valued at $479,000 after buying an additional 1,024 shares during the last quarter. Institutional investors 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.