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

New Fortress Energy Inc. (NASDAQ:NFE) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Stockholders of record on Saturday, June 15th will be given a dividend of 0.10 per share on Thursday, June 27th. This represents a $0.40 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, June 14th.

New Fortress Energy has increased its dividend payment by an average of 157.1% per year over the last three years. New Fortress Energy has a payout ratio of 9.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect New Fortress Energy to earn $4.04 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 9.9%.

New Fortress Energy Stock Performance

NASDAQ NFE opened at $27.48 on Friday. The company has a market cap of $5.63 billion, a PE ratio of 10.37 and a beta of 1.56. The stock’s 50 day simple moving average is $29.46 and its 200-day simple moving average is $32.78. New Fortress Energy has a 1-year low of $25.06 and a 1-year high of $40.04. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.57 and a quick ratio of 0.51.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. New Fortress Energy had a return on equity of 36.16% and a net margin of 22.70%. The firm had revenue of $690.30 million for the quarter, compared to the consensus estimate of $602.41 million. During the same quarter last year, the business posted $0.90 earnings per share. The firm’s revenue was up 19.2% compared to the same quarter last year. As a group, equities research analysts anticipate that New Fortress Energy will post 2.97 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Stifel Nicolaus lowered their target price on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft lowered their target price on New Fortress Energy from $35.00 to $33.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Barclays lowered their target price on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.00.

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.