New Fortress Energy Inc. (NASDAQ:NFE) Receives Consensus Rating of “Hold” from Brokerages

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have earned an average rating of “Hold” from the seven analysts that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $38.57.

A number of brokerages recently weighed in on NFE. Stifel Nicolaus cut their price target 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $35.00 target price (down from $40.00) on shares of New Fortress Energy in a research note on Monday, March 4th. Finally, Barclays lowered their price target on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday.

Institutional Trading of New Fortress Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. William Blair Investment Management LLC grew its holdings in New Fortress Energy by 31.0% during the 1st quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock valued at $272,748,000 after buying an additional 2,111,360 shares in the last quarter. Meeder Asset Management Inc. bought a new position in New Fortress Energy in the 1st quarter valued at $95,000. Sei Investments Co. boosted its holdings in New Fortress Energy by 2.8% in the 1st quarter. Sei Investments Co. now owns 47,887 shares of the company’s stock valued at $1,465,000 after purchasing an additional 1,326 shares during the period. Quantbot Technologies LP purchased a new position in shares of New Fortress Energy during the 1st quarter valued at $292,000. Finally, Wellington Shields & Co. LLC raised its position in shares of New Fortress Energy by 34.1% in the first quarter. Wellington Shields & Co. LLC now owns 6,066 shares of the company’s stock worth $186,000 after buying an additional 1,544 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Price Performance

NFE opened at $26.49 on Thursday. The firm’s fifty day moving average price is $29.61 and its two-hundred day moving average price is $32.81. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 10.00 and a beta of 1.56. 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 1 year low of $25.06 and a 1 year high of $40.04.

New Fortress Energy (NASDAQ:NFE) last issued 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 business had revenue of $758.60 million during the quarter, compared to the consensus estimate of $647.54 million. During the same period in the prior year, the firm posted $0.87 EPS. The firm’s quarterly revenue was up 38.8% compared to the same quarter last year. As a group, analysts anticipate that New Fortress Energy will post 2.97 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were issued a dividend of $0.10 per share. 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 1.51%. New Fortress Energy’s payout ratio is 15.09%.

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.