New Fortress Energy Inc. (NASDAQ:NFE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $39.17.

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of New Fortress Energy from $35.00 to $33.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Barclays reduced their price objective on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. Finally, Stifel Nicolaus reduced their price objective on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, May 9th.

New Fortress Energy Stock Up 1.9 %

Shares of NFE stock opened at $20.36 on Friday. New Fortress Energy has a 12 month low of $19.77 and a 12 month high of $40.04. The stock has a market cap of $4.18 billion, a P/E ratio of 9.25 and a beta of 1.49. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 3.74. The company has a 50 day simple moving average of $24.18 and a two-hundred day simple moving average of $29.67.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The business had revenue of $690.30 million during the quarter, compared to analysts’ expectations of $602.41 million. During the same period in the prior year, the company earned $0.90 earnings per share. The firm’s revenue was up 19.2% on a year-over-year basis. On average, research analysts expect that New Fortress Energy will post 1.99 earnings per share for the current year.

New Fortress Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Saturday, June 15th were given a dividend of $0.10 per share. The ex-dividend date was Friday, June 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.96%. New Fortress Energy’s dividend payout ratio is 18.18%.

Hedge Funds Weigh In On New Fortress Energy

A number of hedge funds and other institutional investors have recently modified their holdings of NFE. Primecap Management Co. CA lifted its position in New Fortress Energy by 553.0% during the fourth quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company’s stock valued at $129,727,000 after purchasing an additional 2,911,800 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of New Fortress Energy by 41.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock worth $278,035,000 after acquiring an additional 2,482,627 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of New Fortress Energy by 31.0% in the 1st quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock worth $272,748,000 after acquiring an additional 2,111,360 shares during the last quarter. M&G Plc purchased a new position in New Fortress Energy in the 1st quarter worth about $51,569,000. Finally, Capital World Investors increased its stake in New Fortress Energy by 8.3% in the 4th quarter. Capital World Investors now owns 14,964,622 shares of the company’s stock worth $564,615,000 after buying an additional 1,152,125 shares during the period. Institutional investors own 58.61% of the company’s stock.

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.