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

New Fortress Energy Inc. (NASDAQ:NFE) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $38.00.

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price 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 lowered 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 research report on Thursday, May 9th. Finally, Barclays lowered 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 research report on Monday, May 6th.

Hedge Funds Weigh In On New Fortress Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors grew its holdings in shares of New Fortress Energy by 1.5% during the 1st quarter. Capital World Investors now owns 15,182,319 shares of the company’s stock valued at $464,427,000 after purchasing an additional 217,697 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of New Fortress Energy by 31.0% during the 1st quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock valued at $272,748,000 after purchasing an additional 2,111,360 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of New Fortress Energy by 41.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock valued at $278,035,000 after purchasing an additional 2,482,627 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of New Fortress Energy by 553.0% during the 4th quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company’s stock valued at $129,727,000 after purchasing an additional 2,911,800 shares during the last quarter. Finally, M&G Plc grew its holdings in shares of New Fortress Energy by 52.6% during the 2nd quarter. M&G Plc now owns 2,537,712 shares of the company’s stock valued at $55,830,000 after purchasing an additional 874,210 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.

New Fortress Energy Stock Performance

NASDAQ NFE opened at $19.54 on Tuesday. New Fortress Energy has a 1 year low of $19.02 and a 1 year high of $40.04. The company has a debt-to-equity ratio of 3.74, a current ratio of 0.66 and a quick ratio of 0.54. The stock has a market capitalization of $4.01 billion, a PE ratio of 8.88 and a beta of 1.49. The company’s 50 day simple moving average is $22.41 and its two-hundred day simple moving average is $27.69.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The business had revenue of $690.30 million for the quarter, compared to analysts’ expectations of $602.41 million. During the same period in the prior year, the company posted $0.90 EPS. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. Analysts predict that New Fortress Energy will post 2.03 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Saturday, June 15th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, June 14th. New Fortress Energy’s dividend payout ratio (DPR) is currently 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.