New Fortress Energy (NASDAQ:NFE) Trading Up 3.2%

New Fortress Energy Inc. (NASDAQ:NFE) shares were up 3.2% on Wednesday . The stock traded as high as $12.27 and last traded at $12.05. Approximately 236,557 shares were traded during trading, a decline of 89% from the average daily volume of 2,157,044 shares. The stock had previously closed at $11.68.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NFE. Deutsche Bank Aktiengesellschaft reduced their price target on shares of New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Stifel Nicolaus decreased their target price on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Barclays dropped their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.00.

New Fortress Energy Trading Up 0.3 %

The business has a 50-day moving average of $17.69 and a 200 day moving average of $24.27. The stock has a market cap of $2.40 billion, a PE ratio of 5.31 and a beta of 1.49. The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.63 and a current ratio of 0.72.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.50). The firm had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $465.52 million. New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. The business’s quarterly revenue was down 23.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 EPS. Equities research analysts predict that New Fortress Energy Inc. will post 0.5 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Friday, September 13th. New Fortress Energy’s dividend payout ratio is currently 18.18%.

Institutional Trading of New Fortress Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American National Bank purchased a new position in shares of New Fortress Energy during the 2nd quarter worth about $26,000. Benjamin F. Edwards & Company Inc. raised its stake in New Fortress Energy by 563.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock worth $42,000 after purchasing an additional 1,178 shares during the period. Quarry LP boosted its holdings in shares of New Fortress Energy by 125.7% in the 2nd quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after purchasing an additional 1,253 shares during the last quarter. ORG Partners LLC grew its stake in shares of New Fortress Energy by 987.8% during the 2nd quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock valued at $77,000 after buying an additional 3,408 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of New Fortress Energy during the 1st quarter valued at $95,000. 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.