New Fortress Energy (NASDAQ:NFE) Sets New 1-Year Low at $28.25

New Fortress Energy Inc. (NASDAQ:NFE – Get Rating) reached a new 52-week low during trading on Wednesday . The company traded as low as $28.25 and last traded at $28.93, with a volume of 302509 shares changing hands. The stock had previously closed at $30.75.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NFE shares. BTIG Research upgraded New Fortress Energy from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 31st. Barclays lowered their price target on New Fortress Energy from $44.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, March 6th. Stifel Nicolaus increased their price target on New Fortress Energy from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, March 7th. Morgan Stanley lowered their price target on New Fortress Energy from $65.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, February 15th. Finally, Citigroup lowered their price target on New Fortress Energy from $56.00 to $48.00 and set a “buy” rating for the company in a report on Friday, January 27th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $56.10.

New Fortress Energy Stock Up 0.6 %

The firm has a 50-day moving average of $36.89 and a 200 day moving average of $44.62. The company has a debt-to-equity ratio of 3.10, a current ratio of 0.98 and a quick ratio of 0.96. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 31.42 and a beta of 1.64.

New Fortress Energy (NASDAQ:NFE – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.07). New Fortress Energy had a net margin of 8.21% and a return on equity of 33.30%. The company had revenue of $546.40 million for the quarter, compared to analyst estimates of $714.51 million. During the same period last year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was down 15.7% on a year-over-year basis. As a group, sell-side analysts forecast that New Fortress Energy Inc. will post 5.16 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Friday, March 17th will be paid a $0.10 dividend. The ex-dividend date is Thursday, March 16th. This represents a $0.40 annualized dividend and a yield of 1.40%. New Fortress Energy’s dividend payout ratio is 329.67%.

Insider Transactions at New Fortress Energy

In other news, Director Katherine Wanner bought 3,370 shares of the stock in a transaction dated Thursday, December 22nd. The shares were bought at an average price of $41.79 per share, for a total transaction of $140,832.30. Following the completion of the purchase, the director now owns 82,599 shares in the company, valued at $3,451,812.21. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Katherine Wanner acquired 3,370 shares of the stock in a transaction on Thursday, December 22nd. The shares were purchased at an average price of $41.79 per share, for a total transaction of $140,832.30. Following the purchase, the director now directly owns 82,599 shares in the company, valued at $3,451,812.21. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Energy Transition Holdings Llc sold 6,900,000 shares of the firm’s stock in a transaction on Monday, December 19th. The stock was sold at an average price of $45.56, for a total value of $314,364,000.00. Following the transaction, the insider now owns 25,559,846 shares in the company, valued at approximately $1,164,506,583.76. The disclosure for this sale can be found here. 37.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On New Fortress Energy

Hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its holdings in shares of New Fortress Energy by 49.5% in the 2nd 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. Treasurer of the State of North Carolina boosted its holdings in shares of New Fortress Energy by 1.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 20,652 shares of the company’s stock valued at $903,000 after purchasing an additional 270 shares in the last quarter. Denali Advisors LLC boosted its holdings in shares of New Fortress Energy by 84.8% in the 3rd quarter. Denali Advisors LLC now owns 608 shares of the company’s stock valued at $27,000 after purchasing an additional 279 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of New Fortress Energy by 1.9% in the 1st 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. Finally, Mastrapasqua Asset Management Inc. boosted its holdings in shares of New Fortress Energy by 1.2% in the 3rd quarter. Mastrapasqua Asset Management Inc. now owns 25,957 shares of the company’s stock valued at $1,135,000 after purchasing an additional 305 shares in the last quarter. Institutional investors own 50.16% of the company’s stock.

About New Fortress Energy

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New Fortress Energy, Inc is a holding company engaged in the management of integrated gas-to-power energy infrastructure. It funds, builds, and operates natural gas infrastructure and logistics to deliver energy solutions. The company was founded by Wesley Robert Edens on February 25, 2014 and is headquartered in New York, NY.