Brokerages Set New Fortress Energy Inc. (NASDAQ:NFE) PT at $39.17

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $39.17.

Several research analysts have recently weighed in on the stock. Barclays cut their price objective on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of New Fortress Energy from $35.00 to $33.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Finally, Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, May 9th.

Institutional Trading of New Fortress Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital World Investors increased its position in New Fortress Energy by 1.5% during the 1st quarter. Capital World Investors now owns 15,182,319 shares of the company’s stock worth $464,427,000 after purchasing an additional 217,697 shares in the last quarter. William Blair Investment Management LLC grew its position in New Fortress Energy by 31.0% in the first quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock valued at $272,748,000 after acquiring an additional 2,111,360 shares in the last quarter. Vanguard Group Inc. grew its position in New Fortress Energy by 41.4% in the third quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock valued at $278,035,000 after acquiring an additional 2,482,627 shares in the last quarter. Primecap Management Co. CA grew its position in New Fortress Energy by 553.0% in the fourth quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company’s stock valued at $129,727,000 after acquiring an additional 2,911,800 shares in the last quarter. Finally, Kailix Advisors LLC grew its position in New Fortress Energy by 83.6% in the first quarter. Kailix Advisors LLC now owns 1,969,453 shares of the company’s stock valued at $60,246,000 after acquiring an additional 896,671 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Price Performance

NASDAQ:NFE opened at $20.36 on Friday. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 9.25 and a beta of 1.49. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 3.74. The company’s 50-day moving average is $24.18 and its two-hundred day moving average is $29.67. New Fortress Energy has a 12-month low of $19.77 and a 12-month high of $40.04.

New Fortress Energy (NASDAQ:NFE) last released its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $690.30 million for the quarter, compared to analyst estimates of $602.41 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. Research analysts expect that New Fortress Energy will post 1.99 EPS for the current year.

New Fortress Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Saturday, June 15th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Friday, June 14th. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.

About New Fortress Energy

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.