New Fortress Energy (NASDAQ:NFE) Shares Down 4.5%

New Fortress Energy Inc. (NASDAQ:NFE)’s share price dropped 4.5% during trading on Tuesday . The company traded as low as $9.72 and last traded at $9.73. Approximately 426,374 shares traded hands during trading, a decline of 80% from the average daily volume of 2,177,850 shares. The stock had previously closed at $10.19.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Stifel Nicolaus dropped their target price on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft cut their target price on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a research note on Monday, August 12th. 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 report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, New Fortress Energy presently has an average rating of “Hold” and a consensus target price of $29.00.

New Fortress Energy Stock Performance

The firm has a market capitalization of $1.96 billion, a P/E ratio of 4.35 and a beta of 1.54. The company has a 50-day moving average of $16.89 and a 200-day moving average of $23.68. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38.

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 the consensus estimate of $0.09 by ($0.50). New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. The firm had revenue of $428.00 million during the quarter, compared to analyst estimates of $465.52 million. During the same quarter in the previous year, the firm earned $0.58 EPS. New Fortress Energy’s quarterly revenue was down 23.7% on a year-over-year basis. On average, equities analysts anticipate that New Fortress Energy Inc. will post 0.5 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.19%. The ex-dividend date is Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is currently 18.18%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NFE. Electron Capital Partners LLC lifted its stake in shares of New Fortress Energy by 9.4% in the fourth quarter. Electron Capital Partners LLC now owns 1,322,340 shares of the company’s stock valued at $49,892,000 after buying an additional 113,835 shares in the last quarter. M&G Investment Management Ltd. lifted its position in New Fortress Energy by 70.3% in the 4th quarter. M&G Investment Management Ltd. now owns 1,537,323 shares of the company’s stock valued at $58,418,000 after acquiring an additional 634,851 shares in the last quarter. Nomura Holdings Inc. acquired a new position in New Fortress Energy during the 4th quarter valued at about $4,207,000. Capstone Investment Advisors LLC acquired a new position in New Fortress Energy during the 1st quarter valued at about $468,000. Finally, Dimensional Fund Advisors LP increased its holdings in New Fortress Energy by 21.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,024,178 shares of the company’s stock worth $38,647,000 after purchasing an additional 179,293 shares in 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.