New Fortress Energy Inc. (NASDAQ:NFE) Plans Quarterly Dividend of $0.10

New Fortress Energy Inc. (NASDAQ:NFE) 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.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). The business had revenue of $428.00 million for the quarter, compared to the consensus estimate of $465.52 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. New Fortress Energy’s revenue was down 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 EPS. On average, equities analysts anticipate that New Fortress Energy will post 2.03 earnings per share for the current fiscal year.

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.

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.