New Fortress Energy Inc. (NASDAQ:NFE) Receives Consensus Rating of “Hold” from Analysts

New Fortress Energy Inc. (NASDAQ:NFE) has been assigned a consensus recommendation of “Hold” from the six analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $19.77.

A number of equities analysts have recently issued reports on NFE shares. Barclays lowered their target price on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Stifel Nicolaus dropped their target price on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and set a $7.60 price target (down from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st. BTIG Research dropped their price objective on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Finally, Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $35.00 to $15.00 in a research note on Thursday, October 3rd.

Insider Buying and Selling at New Fortress Energy

In other news, CEO Wesley R. Edens acquired 5,793,742 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was acquired at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the acquisition, the chief executive officer now directly owns 35,721,915 shares in the company, valued at approximately $308,280,126.45. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 37.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On New Fortress Energy

Several large investors have recently made changes to their positions in the business. American National Bank purchased a new stake in New Fortress Energy during the 2nd quarter worth $26,000. Quarry LP lifted its stake in shares of New Fortress Energy by 125.7% in the second quarter. Quarry LP now owns 2,250 shares of the company’s stock worth $49,000 after acquiring an additional 1,253 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of New Fortress Energy in the third quarter worth about $25,000. Benjamin F. Edwards & Company Inc. boosted its holdings in New Fortress Energy by 118.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,031 shares of the company’s stock valued at $67,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in New Fortress Energy during the 1st quarter valued at approximately $95,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Trading Up 7.6 %

NASDAQ NFE opened at $9.59 on Friday. New Fortress Energy has a 52 week low of $7.82 and a 52 week high of $40.04. The firm has a 50 day moving average of $9.81 and a two-hundred day moving average of $17.49. The stock has a market capitalization of $1.97 billion, a PE ratio of 8.13 and a beta of 1.53. The company has a quick ratio of 0.63, a current ratio of 0.72 and a debt-to-equity ratio of 4.38.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). The business had revenue of $428.00 million during the quarter, compared to analyst estimates 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 revenue for the quarter was down 23.7% compared to the same quarter last year. During the same period last year, the company earned $0.58 earnings per share. As a group, research analysts expect that New Fortress Energy will post 0.52 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Friday, September 13th. New Fortress Energy’s dividend payout ratio is presently 33.90%.

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.