New Fortress Energy Inc. (NASDAQ:NFE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

New Fortress Energy Inc. (NASDAQ:NFE) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $38.00.

A number of analysts have commented on NFE shares. Stifel Nicolaus reduced their price objective on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft reduced their target price on New Fortress Energy from $33.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Finally, Barclays lowered their price target on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, May 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citigroup Inc. increased its position in shares of New Fortress Energy by 9.7% during the 3rd quarter. Citigroup Inc. now owns 12,341 shares of the company’s stock worth $405,000 after purchasing an additional 1,092 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of New Fortress Energy by 41.4% in the third quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock valued at $278,035,000 after acquiring an additional 2,482,627 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of New Fortress Energy in the 4th quarter worth approximately $210,000. Alpine Woods Capital Investors LLC grew its position in New Fortress Energy by 42.9% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the company’s stock worth $755,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in New Fortress Energy during the 4th quarter valued at $690,000. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Stock Down 0.8 %

NFE opened at $20.17 on Tuesday. The business has a 50 day moving average of $22.57 and a 200-day moving average of $27.86. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 9.17 and a beta of 1.49. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 3.74. New Fortress Energy has a 1-year low of $19.02 and a 1-year high of $40.04.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The firm had revenue of $690.30 million during the quarter, compared to the consensus estimate of $602.41 million. During the same period in the prior year, the firm earned $0.90 EPS. The business’s revenue was up 19.2% on a year-over-year basis. As a group, sell-side analysts anticipate that New Fortress Energy will post 2.03 earnings per share for the current year.

New Fortress Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Saturday, June 15th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Friday, June 14th. New Fortress Energy’s dividend payout ratio (DPR) is 18.18%.

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.