New Fortress Energy (NASDAQ:NFE) PT Lowered to $27.00

New Fortress Energy (NASDAQ:NFE) had its target price lowered by equities research analysts at Barclays from $32.00 to $27.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 3.37% from the company’s previous close.

A number of other analysts have also commented on the stock. Stifel Nicolaus decreased their price target on shares of New Fortress Energy from $49.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $35.00 target price (down from $40.00) on shares of New Fortress Energy in a research report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $38.57.

New Fortress Energy Stock Performance

Shares of NFE stock opened at $26.12 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 3.66. New Fortress Energy has a 52 week low of $25.06 and a 52 week high of $40.04. The firm has a 50 day moving average of $29.72 and a 200-day moving average of $32.86. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 9.86 and a beta of 1.56.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings data on Thursday, February 29th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The company had revenue of $758.60 million for the quarter, compared to analysts’ expectations of $647.54 million. During the same quarter in the prior year, the firm earned $0.87 EPS. The business’s revenue was up 38.8% on a year-over-year basis. On average, equities analysts forecast that New Fortress Energy will post 2.97 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in New Fortress Energy by 28.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 23,294 shares of the company’s stock valued at $764,000 after purchasing an additional 5,100 shares during the period. Xponance Inc. grew its position in New Fortress Energy by 13.8% during the third quarter. Xponance Inc. now owns 8,841 shares of the company’s stock valued at $290,000 after buying an additional 1,070 shares during the period. Bank of New York Mellon Corp increased its holdings in New Fortress Energy by 69.7% during the third quarter. Bank of New York Mellon Corp now owns 301,329 shares of the company’s stock worth $9,878,000 after buying an additional 123,815 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in New Fortress Energy by 24.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,365 shares of the company’s stock worth $438,000 after acquiring an additional 2,591 shares during the period. Finally, Castleview Partners LLC boosted its stake in New Fortress Energy by 39.6% in the third quarter. Castleview Partners LLC now owns 5,148 shares of the company’s stock valued at $169,000 after acquiring an additional 1,459 shares during the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

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.