New Fortress Energy (NASDAQ:NFE) Price Target Cut to $15.00

New Fortress Energy (NASDAQ:NFE) had its price objective decreased by BTIG Research from $35.00 to $15.00 in a report released on Friday, Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on NFE. Stifel Nicolaus cut their price objective on New Fortress Energy from $40.00 to $17.00 and set a buy rating on the stock in a research note on Monday, August 12th. Barclays cut their price target on New Fortress Energy from $27.00 to $19.00 and set an equal weight rating for the company in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on New Fortress Energy from $26.00 to $21.00 and set a hold rating for the company in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, New Fortress Energy presently has an average rating of Hold and an average price target of $23.40.

New Fortress Energy Stock Up 3.3 %

Shares of NFE stock opened at $12.16 on Friday. The stock’s 50 day simple moving average is $15.99 and its 200 day simple moving average is $22.93. The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.63 and a current ratio of 0.72. New Fortress Energy has a twelve month low of $9.44 and a twelve month high of $40.04. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 5.53 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $428.00 million during the quarter, compared to the consensus estimate of $465.52 million. During the same period in the previous year, the business posted $0.58 earnings per share. The firm’s revenue was down 23.7% on a year-over-year basis. As a group, research analysts predict that New Fortress Energy will post 0.58 EPS for the current year.

New Fortress Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.29%. New Fortress Energy’s payout ratio is 18.18%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its position in New Fortress Energy by 21.5% in the fourth quarter. Victory Capital Management Inc. now owns 16,103 shares of the company’s stock valued at $608,000 after acquiring an additional 2,848 shares during the period. Charles Schwab Investment Management Inc. grew its position in New Fortress Energy by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 408,137 shares of the company’s stock valued at $15,399,000 after acquiring an additional 16,172 shares during the period. Dimensional Fund Advisors LP grew its position in New Fortress Energy by 21.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,024,178 shares of the company’s stock valued at $38,647,000 after acquiring an additional 179,293 shares during the period. Norges Bank bought a new stake in New Fortress Energy in the fourth quarter valued at $23,657,000. Finally, Franklin Resources Inc. grew its position in New Fortress Energy by 5.2% in the fourth quarter. Franklin Resources Inc. now owns 137,995 shares of the company’s stock valued at $5,207,000 after acquiring an additional 6,871 shares during the period. 58.61% of the stock is currently owned by institutional investors and hedge funds.

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.