New Fortress Energy Inc. (NASDAQ:NFE) Receives $39.29 Consensus PT from Analysts

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have received an average rating of “Hold” from the seven analysts that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $39.29.

A number of equities analysts have issued reports on NFE shares. Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $49.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Capital One Financial assumed coverage on shares of New Fortress Energy in a report on Tuesday, December 19th. They issued an “equal weight” rating and a $45.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $35.00 price target (down from $40.00) on shares of New Fortress Energy in a report on Monday, March 4th.

Hedge Funds Weigh In On New Fortress Energy

Several institutional investors and hedge funds have recently modified their holdings of NFE. JPMorgan Chase & Co. increased its holdings in shares of New Fortress Energy by 7.4% during the first quarter. JPMorgan Chase & Co. now owns 20,164 shares of the company’s stock valued at $859,000 after acquiring an additional 1,385 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of New Fortress Energy during the first quarter valued at $238,000. Bank of New York Mellon Corp boosted its position in shares of New Fortress Energy by 9.6% during the first quarter. Bank of New York Mellon Corp now owns 115,094 shares of the company’s stock valued at $4,905,000 after buying an additional 10,069 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of New Fortress Energy during the first quarter valued at $597,000. Finally, HighTower Advisors LLC boosted its position in shares of New Fortress Energy by 1.9% during the first quarter. HighTower Advisors LLC now owns 15,776 shares of the company’s stock valued at $673,000 after buying an additional 300 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Stock Down 1.3 %

NASDAQ:NFE opened at $27.61 on Friday. The firm’s 50 day simple moving average is $31.29 and its 200 day simple moving average is $33.41. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.57 and a quick ratio of 0.51. New Fortress Energy has a one year low of $25.06 and a one year high of $40.04. The company has a market cap of $5.66 billion, a PE ratio of 10.42 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Thursday, February 29th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.08. The firm had revenue of $758.60 million during the quarter, compared to analyst estimates of $647.54 million. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The company’s revenue was up 38.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.87 EPS. On average, research analysts anticipate that New Fortress Energy will post 3.73 earnings per share for the current year.

New Fortress Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.45%. New Fortress Energy’s dividend payout ratio (DPR) is 15.09%.

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.