New Fortress Energy Inc. (NASDAQ:NFE) Receives $39.29 Consensus Price Target from Brokerages

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have earned an average rating of “Hold” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $39.29.

A number of equities analysts have recently commented on NFE shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $35.00 price objective (down from $40.00) on shares of New Fortress Energy in a research note on Monday, March 4th. Stifel Nicolaus decreased their target price on New Fortress Energy from $49.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, March 1st.

New Fortress Energy Price Performance

NASDAQ NFE opened at $28.06 on Friday. New Fortress Energy has a fifty-two week low of $25.06 and a fifty-two week high of $40.04. The stock’s 50-day moving average is $30.95 and its two-hundred day moving average is $33.28. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.57 and a quick ratio of 0.51. The firm has a market cap of $5.75 billion, a P/E ratio of 10.59 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Thursday, February 29th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. The business had revenue of $758.60 million for the quarter, compared to analyst estimates of $647.54 million. New Fortress Energy had a return on equity of 36.16% and a net margin of 22.70%. The firm’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 earnings per share. On average, analysts anticipate that New Fortress Energy will post 3.73 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 15th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Thursday, March 14th. New Fortress Energy’s dividend payout ratio (DPR) is presently 15.09%.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its holdings in New Fortress Energy by 49.5% during the second quarter. American International Group Inc. now owns 752 shares of the company’s stock valued at $30,000 after purchasing an additional 249 shares in the last quarter. HighTower Advisors LLC boosted its holdings in New Fortress Energy by 1.9% during the first quarter. HighTower Advisors LLC now owns 15,776 shares of the company’s stock valued at $673,000 after purchasing an additional 300 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in New Fortress Energy by 41.1% during the first quarter. BNP Paribas Arbitrage SA now owns 1,084 shares of the company’s stock valued at $46,000 after purchasing an additional 316 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in New Fortress Energy by 5.0% during the third quarter. PNC Financial Services Group Inc. now owns 6,730 shares of the company’s stock valued at $221,000 after purchasing an additional 319 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in New Fortress Energy by 1.7% during the fourth quarter. Alliancebernstein L.P. now owns 20,268 shares of the company’s stock valued at $860,000 after purchasing an additional 334 shares in the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.

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.