New Fortress Energy (NASDAQ:NFE) Price Target Lowered to $14.00 at Morgan Stanley

New Fortress Energy (NASDAQ:NFE) had its target price reduced by Morgan Stanley from $15.00 to $14.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts also recently commented on the company. Stifel Nicolaus raised their price objective on New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.60.

New Fortress Energy Stock Down 6.3 %

NASDAQ:NFE opened at $9.69 on Tuesday. The stock’s fifty day simple moving average is $13.48 and its 200-day simple moving average is $11.58. The firm has a market capitalization of $2.64 billion, a P/E ratio of 10.65 and a beta of 1.58. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. New Fortress Energy has a 12-month low of $7.82 and a 12-month high of $34.40.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The business had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. Equities research analysts expect that New Fortress Energy will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in New Fortress Energy by 2.0% during the fourth quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company’s stock worth $730,000 after acquiring an additional 935 shares in the last quarter. US Bancorp DE lifted its holdings in New Fortress Energy by 31.5% during the 4th quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after purchasing an additional 1,126 shares during the last quarter. KBC Group NV boosted its holdings in New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after purchasing an additional 1,852 shares during the period. Allworth Financial LP lifted its position in shares of New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after acquiring an additional 1,962 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of New Fortress Energy by 148.5% during the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after acquiring an additional 2,370 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.

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.