New Fortress Energy (NASDAQ:NFE) Reaches New 52-Week Low at $12.08

Shares of New Fortress Energy Inc. (NASDAQ:NFE) reached a new 52-week low on Wednesday . The stock traded as low as $12.08 and last traded at $12.09, with a volume of 1181874 shares traded. The stock had previously closed at $12.90.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NFE shares. Deutsche Bank Aktiengesellschaft dropped their price objective on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Barclays decreased their price target on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Finally, Stifel Nicolaus reduced their price objective on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, New Fortress Energy presently has a consensus rating of “Hold” and an average price target of $29.00.

New Fortress Energy Stock Down 6.2 %

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 stock has a 50-day simple moving average of $18.63 and a 200-day simple moving average of $24.97. The firm has a market capitalization of $2.48 billion, a PE ratio of 5.50 and a beta of 1.49.

New Fortress Energy (NASDAQ:NFE) last released its earnings results 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). New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The firm had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $465.52 million. During the same period in the prior year, the business earned $0.58 earnings per share. The business’s quarterly revenue was down 23.7% compared to the same quarter last year. Analysts forecast that New Fortress Energy Inc. will post 2.03 EPS for the current year.

New Fortress Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Friday, September 13th. New Fortress Energy’s dividend payout ratio is 18.18%.

Institutional Investors Weigh In On New Fortress Energy

Large investors have recently added to or reduced their stakes in the business. American National Bank bought a new stake in New Fortress Energy during the second quarter worth about $26,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of New Fortress Energy by 563.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock worth $42,000 after buying an additional 1,178 shares during the period. Quarry LP increased its holdings in shares of New Fortress Energy by 125.7% in the second quarter. Quarry LP now owns 2,250 shares of the company’s stock worth $49,000 after buying an additional 1,253 shares during the period. ORG Partners LLC increased its holdings in shares of New Fortress Energy by 987.8% in the second quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock worth $77,000 after buying an additional 3,408 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of New Fortress Energy in the first quarter worth about $95,000. 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.