Shares of New Fortress Energy Inc. (NASDAQ:NFE – Get Rating) have received a consensus recommendation of “Buy” from the seven research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $49.40.
NFE has been the subject of a number of recent research reports. Morgan Stanley cut their price objective on New Fortress Energy from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, February 16th. Zacks Investment Research lowered New Fortress Energy from a “strong-buy” rating to a “hold” rating in a report on Saturday, June 4th. Credit Suisse Group increased their target price on New Fortress Energy from $40.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, April 7th. TheStreet upgraded New Fortress Energy from a “c” rating to a “b-” rating in a report on Thursday, May 5th. Finally, Stifel Nicolaus increased their target price on New Fortress Energy from $45.00 to $68.00 and gave the company a “buy” rating in a report on Monday, April 4th.
Shares of NASDAQ:NFE opened at $50.40 on Thursday. New Fortress Energy has a one year low of $19.17 and a one year high of $52.37. The stock has a fifty day moving average of $43.89 and a 200-day moving average of $32.23. The company has a market capitalization of $10.43 billion, a PE ratio of 28.47 and a beta of 1.53. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.95 and a current ratio of 1.05.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 28th. Stockholders of record on Tuesday, June 14th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Monday, June 13th. New Fortress Energy’s dividend payout ratio (DPR) is presently 22.60%.
In other news, major shareholder Nfe Smrs Holdings Llc sold 300,000 shares of the company’s stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $45.28, for a total value of $13,584,000.00. Following the transaction, the insider now directly owns 32,459,846 shares of the company’s stock, valued at $1,469,781,826.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 980,057 shares of company stock worth $43,183,972 over the last ninety days. 48.80% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors increased its position in New Fortress Energy by 82.7% during the fourth quarter. Capital World Investors now owns 8,094,569 shares of the company’s stock worth $195,403,000 after buying an additional 3,663,806 shares during the last quarter. William Blair Investment Management LLC increased its position in New Fortress Energy by 21.6% during the fourth quarter. William Blair Investment Management LLC now owns 4,714,370 shares of the company’s stock worth $113,805,000 after buying an additional 836,467 shares during the last quarter. Marshall Wace LLP increased its position in New Fortress Energy by 7,298.6% during the fourth quarter. Marshall Wace LLP now owns 819,175 shares of the company’s stock worth $19,773,000 after buying an additional 808,103 shares during the last quarter. PointState Capital LP increased its position in New Fortress Energy by 153.9% during the first quarter. PointState Capital LP now owns 1,195,643 shares of the company’s stock worth $50,946,000 after buying an additional 724,709 shares during the last quarter. Finally, Rubric Capital Management LP increased its position in New Fortress Energy by 129.1% during the fourth quarter. Rubric Capital Management LP now owns 815,162 shares of the company’s stock worth $19,678,000 after buying an additional 459,322 shares during the last quarter. 49.35% of the stock is currently owned by institutional investors and hedge funds.
New Fortress Energy Company Profile (Get Rating)
New Fortress Energy Inc operates as an integrated gas-to-power 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.
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