New Fortress Energy (NASDAQ:NFE) Given New $39.00 Price Target at Barclays

New Fortress Energy (NASDAQ:NFE – Get Rating) had its price target decreased by Barclays from $44.00 to $39.00 in a report released on Monday morning, The Fly reports. Barclays currently has an equal weight rating on the stock.

Several other analysts have also recently commented on the stock. TheStreet cut shares of New Fortress Energy from a b- rating to a c+ rating in a research note on Wednesday, November 23rd. Evercore ISI increased their price target on shares of New Fortress Energy to $74.00 in a research note on Tuesday, November 15th. Citigroup decreased their price target on shares of New Fortress Energy from $56.00 to $48.00 and set a buy rating on the stock in a research note on Friday, January 27th. Bank of America initiated coverage on shares of New Fortress Energy in a research note on Wednesday, February 1st. They set a buy rating and a $67.00 price target on the stock. Finally, Morgan Stanley decreased their price target on shares of New Fortress Energy from $65.00 to $50.00 and set an overweight rating on the stock in a research note on Wednesday, February 15th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $58.00.

New Fortress Energy Stock Performance

NASDAQ NFE opened at $34.79 on Monday. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of 38.23, a PEG ratio of 0.08 and a beta of 1.64. The company has a 50 day moving average of $38.24 and a 200-day moving average of $46.00. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.10. New Fortress Energy has a 1-year low of $27.17 and a 1-year high of $63.06.

New Fortress Energy (NASDAQ:NFE – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.07). The firm had revenue of $546.40 million for the quarter, compared to analyst estimates of $714.51 million. New Fortress Energy had a return on equity of 33.30% and a net margin of 8.21%. The business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 EPS. On average, equities analysts forecast that New Fortress Energy will post 5.33 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Friday, March 17th will be paid a $0.10 dividend. The ex-dividend date is Thursday, March 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.15%. New Fortress Energy’s payout ratio is presently 329.67%.

Insiders Place Their Bets

In other news, Director Katherine Wanner bought 3,370 shares of the business’s stock in a transaction on Thursday, December 22nd. The shares were bought at an average cost of $41.79 per share, for a total transaction of $140,832.30. Following the completion of the acquisition, the director now owns 82,599 shares in the company, valued at approximately $3,451,812.21. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Katherine Wanner bought 3,370 shares of the business’s stock in a transaction on Thursday, December 22nd. The shares were bought at an average cost of $41.79 per share, for a total transaction of $140,832.30. Following the completion of the acquisition, the director now owns 82,599 shares in the company, valued at approximately $3,451,812.21. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Energy Transition Holdings Llc sold 6,900,000 shares of the stock in a transaction on Monday, December 19th. The stock was sold at an average price of $45.56, for a total transaction of $314,364,000.00. Following the completion of the sale, the insider now owns 25,559,846 shares in the company, valued at $1,164,506,583.76. The disclosure for this sale can be found here. Company insiders own 37.70% of the company’s stock.

Institutional Investors Weigh In On New Fortress Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in NFE. Point72 Asset Management L.P. raised its holdings in shares of New Fortress Energy by 287.0% during the fourth quarter. Point72 Asset Management L.P. now owns 2,509,545 shares of the company’s stock worth $106,455,000 after acquiring an additional 1,861,145 shares during the period. Encompass Capital Advisors LLC raised its holdings in shares of New Fortress Energy by 84.9% during the fourth quarter. Encompass Capital Advisors LLC now owns 3,106,540 shares of the company’s stock worth $131,779,000 after acquiring an additional 1,426,841 shares during the period. FMR LLC raised its holdings in shares of New Fortress Energy by 111.7% during the second quarter. FMR LLC now owns 2,372,779 shares of the company’s stock worth $93,891,000 after acquiring an additional 1,251,862 shares during the period. Norges Bank acquired a new stake in shares of New Fortress Energy during the fourth quarter worth $39,412,000. Finally, Electron Capital Partners LLC acquired a new stake in New Fortress Energy in the 4th quarter valued at $32,136,000. 50.16% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Company Profile

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New Fortress Energy, Inc is a holding company engaged in the management of integrated gas-to-power energy infrastructure. It funds, builds, and operates natural gas infrastructure and logistics to deliver energy solutions. The company was founded by Wesley Robert Edens on February 25, 2014 and is headquartered in New York, NY.