New Fortress Energy Inc. (NFE) To Go Ex-Dividend on September 13th

New Fortress Energy Inc. (NASDAQ:NFE) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Investors of record on Friday, September 13th will be given a dividend of 0.10 per share on Friday, September 27th. This represents a $0.40 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, September 13th.

New Fortress Energy has raised its dividend by an average of 157.1% per year over the last three years. New Fortress Energy has a payout ratio of 16.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect New Fortress Energy to earn $2.67 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 15.0%.

New Fortress Energy Stock Performance

NFE stock traded down $4.02 during trading on Friday, hitting $13.00. The company had a trading volume of 20,064,432 shares, compared to its average volume of 1,947,755. New Fortress Energy has a 1-year low of $12.63 and a 1-year high of $40.04. The firm has a 50-day moving average price of $21.17 and a 200-day moving average price of $26.85. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 3.74. The firm has a market cap of $2.67 billion, a PE ratio of 5.91 and a beta of 1.49.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.50). The firm had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $465.52 million. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The company’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.58 earnings per share. On average, analysts expect that New Fortress Energy will post 2.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of New Fortress Energy from $33.00 to $26.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Stifel Nicolaus dropped their price objective on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Barclays reduced 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.20.

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.