New Fortress Energy (NASDAQ:NFE) Price Target Cut to $19.00

New Fortress Energy (NASDAQ:NFE) had its price objective cut by Barclays from $27.00 to $19.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

NFE has been the topic of several other reports. Stifel Nicolaus dropped their target price on New Fortress Energy from $45.00 to $43.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of New Fortress Energy from $33.00 to $26.00 and set a hold rating on the stock in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $36.67.

New Fortress Energy Stock Up 2.0 %

Shares of New Fortress Energy stock opened at $17.02 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 3.74. The company has a market cap of $3.49 billion, a P/E ratio of 7.74 and a beta of 1.49. The firm’s 50 day moving average price is $21.32 and its 200-day moving average price is $26.91. New Fortress Energy has a 52-week low of $15.60 and a 52-week high of $40.04.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $602.41 million. During the same period in the previous year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, sell-side analysts predict that New Fortress Energy will post 2.03 EPS for the current fiscal year.

Institutional Trading of New Fortress Energy

Large investors have recently added to or reduced their stakes in the company. American National Bank acquired a new stake in shares of New Fortress Energy during the second quarter worth about $26,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of New Fortress Energy by 563.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock valued at $42,000 after acquiring an additional 1,178 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of New Fortress Energy in the first quarter worth $95,000. Kapitalo Investimentos Ltda purchased a new position in shares of New Fortress Energy during the fourth quarter worth $119,000. Finally, ORG Partners LLC lifted its position in New Fortress Energy by 987.8% during the second quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock valued at $77,000 after purchasing an additional 3,408 shares during the period. Hedge funds and other institutional investors own 58.61% of the company’s stock.

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.