New Fortress Energy Inc. (NASDAQ:NFE – Get Free Report) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Stockholders of record on Friday, September 13th will be given a dividend of 0.10 per share on Friday, September 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, September 13th.
New Fortress Energy has raised its dividend payment by an average of 157.1% annually over the last three years. New Fortress Energy has a dividend payout ratio of 16.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect New Fortress Energy to earn $2.67 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 15.0%.
New Fortress Energy Trading Down 23.6 %
NFE traded down $4.02 during midday trading on Friday, reaching $13.00. 20,064,432 shares of the company’s stock traded hands, compared to its average volume of 1,947,755. New Fortress Energy has a 52 week low of $12.63 and a 52 week high of $40.04. The company has a debt-to-equity ratio of 3.74, a current ratio of 0.66 and a quick ratio of 0.54. The firm has a fifty day moving average of $21.17 and a two-hundred day moving average of $26.85. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 5.91 and a beta of 1.49.
Wall Street Analyst Weigh In
NFE has been the subject of several research analyst reports. Stifel Nicolaus lowered 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 report on Thursday, May 9th. Barclays reduced their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price 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 two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.20.
Check Out Our Latest Report on NFE
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.
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